Barclays Increases Shopify (NYSE:SHOP) Price Target to $100.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target upped by research analysts at Barclays from $93.00 to $100.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s target price indicates a potential downside of 16.46% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group upped their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank upped their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th. Robert W. Baird upped their target price on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.80.

Shopify Trading Down 3.1 %

NYSE:SHOP traded down $3.89 on Wednesday, reaching $119.70. 4,763,990 shares of the company’s stock were exchanged, compared to its average volume of 7,569,428. The business has a fifty day moving average of $111.29 and a 200-day moving average of $91.82. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify has a 52-week low of $48.56 and a 52-week high of $125.95. The firm has a market capitalization of $154.67 billion, a price-to-earnings ratio of 111.87, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SHOP. Norges Bank purchased a new position in shares of Shopify in the fourth quarter valued at $1,542,262,000. Baillie Gifford & Co. increased its position in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. FMR LLC increased its position in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Shopify by 30.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after buying an additional 1,647,374 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock valued at $593,588,000 after buying an additional 1,621,981 shares in the last quarter. 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.