Shopify (NYSE:SHOP) Price Target Raised to $140.00 at Evercore ISI

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by Evercore ISI from $125.00 to $140.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

Other analysts have also issued reports about the company. Truist Financial raised their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Monday. Canaccord Genuity Group boosted their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify Price Performance

Shares of NYSE:SHOP opened at $120.46 on Wednesday. The firm has a 50 day moving average of $111.29 and a 200-day moving average of $91.82. Shopify has a 12 month low of $48.56 and a 12 month high of $125.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock 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 announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 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%. On average, equities research analysts predict that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares during the last quarter. CWM LLC raised its stake in shares of Shopify by 14.9% in the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after purchasing an additional 1,832 shares during the last quarter. Creative Planning lifted its stake in Shopify by 4.4% during the 3rd quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after acquiring an additional 16,375 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Shopify by 32.2% during the third quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock valued at $705,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Prospect Financial Services LLC purchased a new position in Shopify during the third quarter worth about $288,000. 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.