Shopify (NYSE:SHOP) Price Target Raised to $144.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by Morgan Stanley from $126.00 to $144.00 in a research note published on Wednesday, Marketbeat Ratings reports. They currently have an overweight rating on the software maker’s stock.

SHOP has been the subject of a number of other research reports. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 target price on shares of Shopify in a research report on Wednesday. JMP Securities reiterated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. The Goldman Sachs Group upped their price objective on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer lifted their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Price Performance

Shares of NYSE:SHOP opened at $128.36 on Wednesday. The firm has a market capitalization of $165.85 billion, a price-to-earnings ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The business’s 50 day simple moving average is $111.70 and its 200-day simple moving average is $92.27. Shopify has a 12 month low of $48.56 and a 12 month high of $128.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, equities analysts forecast that Shopify will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidemark LLC lifted its stake in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after acquiring an additional 90 shares in the last quarter. Howland Capital Management LLC raised its position in shares of Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares during the last quarter. First United Bank & Trust grew its position in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after buying an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.