Shopify (NYSE:SHOP) Price Target Raised to $135.00 at Robert W. Baird

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by equities researchers at Robert W. Baird from $126.00 to $135.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target points to a potential upside of 10.43% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. 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 research report on Wednesday. Oppenheimer lifted their price objective on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler boosted their price objective on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday. Scotiabank boosted their price objective on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and upped their price target for the company from $110.00 to $140.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Stock Down 1.1 %

NYSE SHOP traded down $1.34 on Wednesday, hitting $122.25. The stock had a trading volume of 8,897,011 shares, compared to its average volume of 7,737,990. The business’s fifty day moving average price is $111.29 and its 200 day moving average price is $91.82. The stock has a market cap of $157.96 billion, a price-to-earnings ratio of 114.25, a price-to-earnings-growth 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 52-week low of $48.56 and a 52-week high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 year.

Institutional Trading of Shopify

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tidemark LLC grew its holdings in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after buying an additional 90 shares in the last quarter. Howland Capital Management LLC lifted its holdings in Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust raised its holdings in shares of Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after acquiring an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

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.