Brokerages Set Shopify Inc. (NYSE:SHOP) Target Price at $126.31

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has received a consensus recommendation of “Moderate Buy” from the forty brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, twenty-four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $126.31.

A number of equities analysts have weighed in on the company. DA Davidson upped their price target on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Citigroup increased their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. Finally, CIBC lifted their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SHOP. Allianz SE acquired a new stake in Shopify during the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Shopify during the 4th quarter worth $30,000. Mark Sheptoff Financial Planning LLC increased its position in shares of Shopify by 50.0% in 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 during the period. Finally, Brooklyn Investment Group acquired a new position in Shopify in the third quarter valued at about $33,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Trading Down 5.0 %

SHOP opened at $104.32 on Monday. The stock has a market capitalization of $135.07 billion, a P/E ratio of 67.30, a P/E/G ratio of 4.82 and a beta of 2.60. Shopify has a 12 month low of $48.56 and a 12 month high of $129.38. The firm’s fifty day simple moving average is $110.36 and its 200 day simple moving average is $100.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts predict that Shopify will post 1.12 EPS for the current fiscal year.

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.