Shopify (NYSE:SHOP) Price Target Raised to $130.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Jefferies Financial Group from $110.00 to $130.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the software maker’s stock.

A number of other brokerages also recently issued reports on SHOP. New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. UBS Group raised their price target on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer increased their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird increased their price objective on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Performance

Shares of SHOP stock opened at $129.20 on Tuesday. The company’s 50-day moving average is $112.16 and its 200 day moving average is $93.70. 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 company has a market capitalization of $166.94 billion, a price-to-earnings ratio of 120.75, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. Shopify has a one year low of $48.56 and a one year high of $129.38.

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 analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. Sell-side analysts expect that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently modified their holdings of SHOP. Allianz SE purchased a new position in shares of Shopify in the fourth quarter valued at $27,000. PFG Private Wealth Management LLC grew its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of Shopify in the fourth quarter valued at $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of 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 purchasing an additional 100 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Shopify in the fourth quarter valued at $39,000. 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.