Shopify (NYSE:SHOP) Given New $124.00 Price Target at JPMorgan Chase & Co.

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price increased by JPMorgan Chase & Co. from $121.00 to $124.00 in a research report report published on Wednesday morning, Marketbeat reports. The firm currently has an overweight rating on the software maker’s stock.

A number of other analysts have also recently commented on the company. Moffett Nathanson boosted their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Robert W. Baird raised their target price on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price target on shares of Shopify in a research report on Wednesday, January 22nd. Citigroup boosted their price objective on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.14.

Shopify Trading Down 2.5 %

Shares of NYSE:SHOP opened at $120.46 on Wednesday. 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 has a 12-month low of $48.56 and a 12-month high of $125.95. The business has a 50 day moving average of $111.29 and a two-hundred day moving average of $91.82. The company has a market capitalization of $155.65 billion, a PE ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47.

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 net margin of 16.84% and a return on equity of 11.60%. As a group, analysts forecast that Shopify will post 0.91 EPS for the current year.

Institutional Trading of Shopify

Institutional investors have recently modified their holdings of the stock. Prudential PLC raised its stake in Shopify by 16.1% during the 4th quarter. Prudential PLC now owns 201,894 shares of the software maker’s stock worth $21,461,000 after acquiring an additional 28,026 shares in the last quarter. Resolute Advisors LLC grew its holdings in shares of Shopify by 1.9% during the fourth quarter. Resolute Advisors LLC now owns 43,150 shares of the software maker’s stock worth $4,588,000 after purchasing an additional 820 shares during the last quarter. Uniting Wealth Partners LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $319,000. Grant Private Wealth Management Inc purchased a new stake in shares of Shopify in the 4th quarter valued at about $1,116,000. Finally, Spahn Wealth & Retirement LLC acquired a new stake in shares of Shopify in the 4th quarter valued at about $746,000. Hedge funds and other 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.