Shopify (NYSE:SHOP) Stock Price Up 0.8% – What’s Next?

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s stock price rose 0.8% on Friday . The company traded as high as $102.72 and last traded at $102.67. Approximately 2,309,825 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 8,573,479 shares. The stock had previously closed at $101.85.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research reports. Royal Bank of Canada raised their target price on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Scotiabank raised their target price on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Performance

The firm has a market capitalization of $134.44 billion, a price-to-earnings ratio of 67.08, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business has a fifty day moving average of $110.03 and a two-hundred day moving average of $99.12.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Members Wealth LLC bought a new stake in Shopify in the 4th quarter valued at $177,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in Shopify in the 4th quarter valued at $29,322,000. Centaurus Financial Inc. boosted its stake in Shopify by 15.4% in the 4th quarter. Centaurus Financial Inc. now owns 1,496 shares of the software maker’s stock valued at $159,000 after purchasing an additional 200 shares during the period. Cim LLC bought a new stake in Shopify in the 4th quarter valued at $1,313,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in Shopify in the 4th quarter valued at $232,000. 69.27% of the stock is owned by institutional investors and hedge funds.

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.