Shopify (NYSE:SHOP) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price boosted by equities researchers at Jefferies Financial Group from $110.00 to $130.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 0.62% from the company’s previous close.

A number of other research firms have also recently issued reports on SHOP. Scotiabank boosted their price objective on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Mizuho raised their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Citigroup upped their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Up 0.7 %

NYSE SHOP traded up $0.85 on Tuesday, hitting $129.20. 6,275,174 shares of the stock were exchanged, compared to its average volume of 7,955,772. The stock has a fifty day moving average price of $112.16 and a two-hundred day moving average price of $93.70. The firm has a market capitalization of $166.94 billion, a P/E ratio of 120.75, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify has a 52-week low of $48.56 and a 52-week high of $129.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Research analysts forecast that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Trading of Shopify

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its stake in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. Capital World Investors increased its holdings in Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after buying an additional 496,982 shares during the period. Vanguard Group Inc. raised its position in Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after buying an additional 781,162 shares during the last quarter. FMR LLC lifted its stake in Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after acquiring an additional 1,426,000 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Shopify by 2.7% in the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after acquiring an additional 968,026 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.