Shopify (NYSE:SHOP) Given New $150.00 Price Target at The Goldman Sachs Group

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective increased by The Goldman Sachs Group from $135.00 to $150.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the software maker’s stock.

Several other equities research analysts have also recently issued reports on SHOP. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research report on Wednesday. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Monday. JPMorgan Chase & Co. increased their target price on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Barclays boosted their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.14.

Shopify Trading Down 2.5 %

Shares of SHOP opened at $120.46 on Wednesday. Shopify has a 12-month low of $48.56 and a 12-month high of $125.95. The firm has a market capitalization of $155.65 billion, a P/E ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. The firm has a 50-day moving average price of $111.29 and a 200 day moving average price of $91.82. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 forecast that Shopify will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allianz SE purchased a new stake in Shopify in the fourth quarter valued at $27,000. PFG Private Wealth Management LLC increased its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its position in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. boosted its position in shares of Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

About Shopify

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.