Analysts Set Shopify Inc. (NYSE:SHOP) Target Price at $79.03

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been given a consensus rating of “Hold” by the thirty-seven research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $79.00.

A number of equities analysts recently commented on the stock. Piper Sandler reiterated an “underweight” rating and issued a $63.00 target price on shares of Shopify in a research report on Thursday, April 11th. Loop Capital decreased their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Mizuho lifted their price target on Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group lifted their price objective on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th.

Institutional Trading of Shopify

A number of large investors have recently made changes to their positions in the business. Private Wealth Management Group LLC bought a new stake in shares of Shopify in the 4th quarter worth about $26,000. SJS Investment Consulting Inc. grew its holdings in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares in the last quarter. DSM Capital Partners LLC bought a new position in Shopify in the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in Shopify during the fourth quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP lifted its position in Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after acquiring an additional 391 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Stock Down 0.4 %

Shares of NYSE SHOP opened at $77.06 on Friday. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market cap of $99.14 billion, a P/E ratio of 856.32 and a beta of 2.20. The business has a 50-day simple moving average of $74.74 and a two-hundred day simple moving average of $73.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Research analysts anticipate that Shopify will post 0.59 earnings per share for the current fiscal year.

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.