Shopify (NYSE:SHOP) Shares Up 1.2% – Should You Buy?

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) shot up 1.2% during trading on Monday . The company traded as high as $98.43 and last traded at $95.97. 1,881,629 shares changed hands during trading, a decline of 78% from the average session volume of 8,529,425 shares. The stock had previously closed at $94.85.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SHOP shares. Citigroup upped their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price target on shares of Shopify in a research report on Wednesday, February 12th. Moffett Nathanson upped their price target 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. Finally, Scotiabank upped their price target on shares of Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 2.4 %

The firm’s 50 day moving average is $110.88 and its two-hundred day moving average is $98.78. The stock has a market cap of $125.79 billion, a price-to-earnings ratio of 62.68, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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

Institutional Investors Weigh In On Shopify

Several large investors have recently made changes to their positions in the company. Allianz SE bought a new position in shares of Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in the fourth 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 in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC boosted its holdings 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 valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Shopify in the third quarter valued at approximately $33,000. Institutional investors and hedge funds 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.