Shopify (NYSE:SHOP) Price Target Raised to $170.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target raised by ATB Capital from $145.00 to $170.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. ATB Capital currently has a sector perform rating on the software maker’s stock.

SHOP has been the topic of a number of other reports. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $140.00 in a report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Moffett Nathanson lifted their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Evercore ISI upped their target price on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price target on shares of Shopify in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.21.

Shopify Stock Performance

SHOP opened at $128.36 on Wednesday. Shopify has a 1-year low of $48.56 and a 1-year high of $128.57. The company has a market cap of $165.85 billion, a price-to-earnings ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. The company’s fifty day moving average price is $111.70 and its two-hundred day moving average price is $92.27. 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 (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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, analysts expect that Shopify will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

A number of large investors have recently modified their holdings of the company. Tidemark LLC grew its position in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after acquiring an additional 90 shares during the last quarter. Howland Capital Management LLC lifted its stake in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont boosted its position in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares during the period. First United Bank & Trust grew its stake in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. 69.27% of the stock is 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.