Rosenblatt Securities Increases Shopify (NYSE:SHOP) Price Target to $481.00
Shopify (NYSE:SHOP) (TSE:SHOP) had its target price lifted by Rosenblatt Securities from $410.00 to $481.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. Rosenblatt Securities currently has a buy rating on the software maker’s stock.
Other equities research analysts also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Shopify from $360.00 to $370.00 in a research note on Thursday, August 1st. Jefferies Financial Group raised their price objective on shares of Shopify from $250.00 to $300.00 and gave the stock a hold rating in a research note on Thursday, August 1st. Guggenheim downgraded shares of Shopify from a buy rating to a neutral rating in a research note on Monday, May 13th. They noted that the move was a valuation call. Credit Suisse Group raised their price objective on shares of Shopify from $190.00 to $275.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Finally, Piper Jaffray Companies raised their price objective on shares of Shopify from $286.00 to $320.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $329.73.
NYSE:SHOP opened at $385.39 on Tuesday. Shopify has a 12 month low of $117.64 and a 12 month high of $409.61. The firm has a market cap of $42.99 billion, a price-to-earnings ratio of -631.79 and a beta of 1.30. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $349.15 and its 200-day moving average is $269.20.
A number of large investors have recently made changes to their positions in the business. Comerica Securities Inc. lifted its position in shares of Shopify by 32.4% during the 4th quarter. Comerica Securities Inc. now owns 3,005 shares of the software maker’s stock worth $416,000 after purchasing an additional 735 shares during the last quarter. Brinker Capital Inc. purchased a new stake in shares of Shopify during the 1st quarter worth $228,000. Oppenheimer Asset Management Inc. lifted its position in shares of Shopify by 21.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,110 shares of the software maker’s stock worth $230,000 after purchasing an additional 193 shares during the last quarter. World Asset Management Inc purchased a new stake in shares of Shopify during the 1st quarter worth $291,000. Finally, CENTRAL TRUST Co lifted its position in shares of Shopify by 180.0% during the 1st quarter. CENTRAL TRUST Co now owns 210 shares of the software maker’s stock worth $43,000 after purchasing an additional 135 shares during the last quarter. 64.02% of the stock is owned by hedge funds and other institutional investors.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
Further Reading: Net Income
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