Shopify (NYSE:SHOP) Stock Price Expected to Rise, Mizuho Analyst Says

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Mizuho from $68.00 to $105.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Mizuho’s price objective would suggest a potential downside of 3.74% from the stock’s current price.

A number of other research firms also recently issued reports on SHOP. JPMorgan Chase & Co. lifted their price target on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Oppenheimer lifted their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday. KeyCorp began coverage on Shopify in a research report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Shopify in a report on Tuesday, September 10th. Finally, Wells Fargo & Company increased their target price on shares of Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Down 5.2 %

Shares of Shopify stock opened at $109.08 on Wednesday. The stock has a market capitalization of $140.76 billion, a PE ratio of 101.94, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36. Shopify has a 52 week low of $48.56 and a 52 week high of $115.62. The stock has a 50 day moving average price of $80.36 and a two-hundred day moving average price of $70.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.60%. As a group, equities analysts anticipate that Shopify will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Several institutional investors and hedge funds have recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Shopify during the second quarter valued at about $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify in the 2nd quarter worth approximately $33,000. Brooklyn Investment Group bought a new stake in Shopify in the 3rd quarter worth $33,000. Finally, Rosenberg Matthew Hamilton increased its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

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.