Royal Bank Of Canada Reiterates $200.00 Price Target for Shopify (NASDAQ:SHOP)

Royal Bank Of Canada set a $200.00 target price on Shopify (NASDAQ:SHOP) (TSE:SHOP) in a research report sent to investors on Monday morning,BayStreet.CA reports. The firm currently has an outperform rating on the software maker’s stock.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus set a $175.00 price target on Shopify in a research note on Tuesday, November 4th. Zacks Research downgraded Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Cantor Fitzgerald restated a “neutral” rating and set a $181.00 target price (up previously from $156.00) on shares of Shopify in a research note on Wednesday, November 5th. Scotiabank raised Shopify from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $165.00 to $200.00 in a report on Thursday, January 8th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Shopify in a report on Monday, December 1st. Twenty-four equities research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and an average price target of $171.61.

Shopify Stock Up 1.0%

NASDAQ SHOP opened at $138.92 on Monday. Shopify has a 52 week low of $69.84 and a 52 week high of $182.19. The firm has a 50 day moving average of $158.72 and a two-hundred day moving average of $151.01. The stock has a market capitalization of $180.85 billion, a PE ratio of 102.90, a price-to-earnings-growth ratio of 4.06 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. On average, equities research analysts expect that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. White Pine Investment CO acquired a new stake in shares of Shopify during the fourth quarter worth about $201,000. Cora Capital Advisors LLC purchased a new stake in Shopify during the 4th quarter valued at approximately $212,000. Cornerstone Enterprises LLC lifted its position in Shopify by 20.1% during the 4th quarter. Cornerstone Enterprises LLC now owns 9,170 shares of the software maker’s stock worth $1,476,000 after acquiring an additional 1,533 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Shopify in the 4th quarter valued at approximately $29,000. Finally, AGP Franklin LLC increased its holdings in shares of Shopify by 3.9% in the fourth quarter. AGP Franklin LLC now owns 6,801 shares of the software maker’s stock valued at $1,095,000 after purchasing an additional 254 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.