Shopify Inc. (NYSE:SHOP) Receives $99.03 Average Target Price from Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been given an average rating of “Moderate Buy” by the forty research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, twenty-three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $99.03.

Several equities research analysts have recently weighed in on SHOP shares. Wells Fargo & Company raised their price objective on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Robert W. Baird increased their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Citigroup upped their price objective on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Mizuho lifted their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th.

Shopify Trading Up 1.2 %

Shares of NYSE:SHOP opened at $115.98 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market capitalization of $149.86 billion, a price-to-earnings ratio of 108.39, a PEG ratio of 2.98 and a beta of 2.46. Shopify has a 1-year low of $48.56 and a 1-year high of $120.72. The company has a 50 day moving average price of $96.84 and a 200 day moving average price of $78.47.

Institutional Investors Weigh In On Shopify

Hedge funds have recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group boosted its stake in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Cultivar Capital Inc. bought a new stake in shares of Shopify in the second quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify in the second quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new stake in shares of Shopify in the third quarter worth $33,000. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. 69.27% of the stock is currently owned by 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.