Shopify Inc. (NASDAQ:SHOP) Receives $161.03 Consensus Target Price from Analysts

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) has received a consensus recommendation of “Moderate Buy” from the forty-five analysts that are covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $170.7222.

Several analysts have commented on the stock. UBS Group reissued a “neutral” rating and set a $145.00 price target (up from $130.00) on shares of Shopify in a research report on Thursday, August 6th. Evercore restated an “outperform” rating and issued a $175.00 target price (up from $135.00) on shares of Shopify in a research report on Wednesday, August 5th. Morgan Stanley downgraded shares of Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. Citizens Jmp increased their target price on Shopify from $150.00 to $185.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 6th. Finally, Wedbush boosted their price target on shares of Shopify from $155.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th.

Shopify Price Performance

SHOP stock opened at $150.41 on Thursday. Shopify has a 12 month low of $94.00 and a 12 month high of $182.19. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock has a market cap of $195.18 billion, a PE ratio of 101.63, a P/E/G ratio of 3.23 and a beta of 2.58. The company has a 50-day moving average price of $121.23 and a 200 day moving average price of $119.82.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $3.58 billion during the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The business’s revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. Equities research analysts anticipate that Shopify will post 1.4 earnings per share for the current year.

Institutional Trading of Shopify

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Shopify by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank purchased a new stake in Shopify during the fourth quarter worth about $2,611,797,000. Invesco Ltd. boosted its stake in shares of Shopify by 9.8% during the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock worth $2,257,796,000 after acquiring an additional 1,252,074 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Shopify by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after acquiring an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Shopify by 9.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after purchasing an additional 827,643 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

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.