TD Securities Issues Positive Forecast for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target boosted by stock analysts at TD Securities from $100.00 to $130.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the software maker’s stock. TD Securities’ price objective suggests a potential upside of 1.84% from the company’s current price.

A number of other equities analysts also recently commented on SHOP. Mizuho boosted their price objective 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. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday. KeyCorp upped their price target on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, UBS Group upped their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Stock Performance

Shopify stock opened at $127.65 on Wednesday. The company has a 50 day moving average price of $111.43 and a 200-day moving average price of $92.02. 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 fifty-two week low of $48.56 and a fifty-two week high of $128.00. The company has a market capitalization of $164.93 billion, a PE ratio of 119.30, a P/E/G ratio of 2.49 and a beta of 2.47.

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

Hedge Funds Weigh In On Shopify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOP. GAMMA Investing LLC boosted its position in Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after buying an additional 253 shares during the period. CWM LLC raised its stake in Shopify by 14.9% during the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after acquiring an additional 1,832 shares in the last quarter. Creative Planning raised its stake in Shopify by 4.4% during the 3rd quarter. Creative Planning now owns 392,415 shares of the software maker’s stock worth $31,448,000 after acquiring an additional 16,375 shares in the last quarter. NBC Securities Inc. raised its stake in Shopify by 32.2% during the 3rd quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after acquiring an additional 2,146 shares in the last quarter. Finally, Prospect Financial Services LLC purchased a new position in Shopify during the 3rd quarter worth $288,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

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.