Shopify Inc. (NYSE:SHOP) Receives $126.31 Consensus Price Target from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have been assigned an average rating of “Moderate Buy” from the forty research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $126.31.

SHOP has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. The Goldman Sachs Group upped their price target on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th.

Institutional Investors Weigh In On Shopify

Large investors have recently bought and sold shares of the company. Members Wealth LLC acquired a new position in shares of Shopify in the 4th quarter valued at $177,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Shopify in the fourth quarter valued at about $29,322,000. Centaurus Financial Inc. increased its holdings in shares of Shopify by 15.4% in the fourth quarter. Centaurus Financial Inc. now owns 1,496 shares of the software maker’s stock worth $159,000 after acquiring an additional 200 shares in the last quarter. Cim LLC bought a new stake in shares of Shopify in the fourth quarter worth about $1,313,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in shares of Shopify during the fourth quarter worth about $232,000. Institutional investors own 69.27% of the company’s stock.

Shopify Trading Down 5.0 %

SHOP opened at $104.32 on Monday. The stock has a market cap of $135.07 billion, a PE ratio of 67.30, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify has a 1 year low of $48.56 and a 1 year high of $129.38. The stock’s 50 day simple moving average is $110.36 and its 200-day simple moving average is $100.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Equities analysts forecast that Shopify will post 1.12 earnings per share for the current fiscal year.

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.