Evercore ISI Increases Shopify (NYSE:SHOP) Price Target to $140.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective hoisted by Evercore ISI from $125.00 to $140.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. Evercore ISI’s price target would indicate a potential upside of 12.92% from the company’s previous close.

SHOP has been the topic of several other research reports. Oppenheimer upped their price target on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler upped their price target on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Scotiabank raised their target price on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.23.

Shopify Price Performance

Shares of NYSE:SHOP opened at $123.98 on Wednesday. The stock has a market cap of $160.19 billion, a price-to-earnings ratio of 115.87, a PEG ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify has a 12 month low of $48.56 and a 12 month high of $125.95. The stock’s 50 day moving average price is $111.29 and its 200 day moving average price is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. Equities research analysts anticipate that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sava Infond d.o.o. bought a new position in Shopify during the fourth quarter worth about $117,000. Korea Investment CORP raised its holdings in shares of Shopify by 0.6% in the 4th quarter. Korea Investment CORP now owns 1,003,030 shares of the software maker’s stock worth $106,695,000 after buying an additional 6,014 shares in the last quarter. Mufg Securities Canada LTD. raised its holdings in shares of Shopify by 72.4% in the 4th quarter. Mufg Securities Canada LTD. now owns 1,852,031 shares of the software maker’s stock worth $196,984,000 after buying an additional 777,696 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Shopify in the fourth quarter valued at $160,000. 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.