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

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price raised by CIBC from $135.00 to $160.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. CIBC currently has an outperform rating on the software maker’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada lifted their price target on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays lifted their target price on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Benchmark raised 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. Finally, Scotiabank boosted their price target on shares of Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a report 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Trading Down 2.5 %

NYSE SHOP opened at $120.46 on Wednesday. Shopify has a twelve month low of $48.56 and a twelve month high of $125.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market cap of $155.65 billion, a price-to-earnings ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. The firm’s 50 day moving average price is $111.29 and its two-hundred day moving average price is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities analysts anticipate that Shopify will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allianz SE acquired a new position in shares of Shopify during the 4th quarter worth $27,000. PFG Private Wealth Management LLC boosted its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Brooklyn Investment Group acquired a new position in Shopify during the 3rd quarter worth approximately $33,000. Finally, Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in 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 last quarter. 69.27% of the stock is currently owned by institutional investors.

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.