Shopify Inc. (NYSE:SHOP) (TSE:SHOP) had its price target hoisted by Roth Capital from $119.00 to $127.00 in a report published on Tuesday. They currently have a buy rating on the software maker’s stock.

Several other analysts also recently weighed in on SHOP. Wedbush restated an outperform rating and set a $115.00 price objective (up previously from $100.00) on shares of Shopify in a research report on Tuesday, August 8th. Barclays PLC restated an equal weight rating and set a $90.00 price objective (up previously from $70.00) on shares of Shopify in a research report on Wednesday, August 2nd. Robert W. Baird restated a buy rating and set a $110.00 price objective on shares of Shopify in a research report on Friday, September 29th. Canaccord Genuity restated a buy rating and set a $115.00 price objective (up previously from $90.00) on shares of Shopify in a research report on Wednesday, August 2nd. Finally, Vetr upgraded shares of Shopify from a hold rating to a buy rating and set a $121.02 price objective for the company in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $100.70.

Shopify (NYSE:SHOP) opened at $111.81 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.64 and a quick ratio of 10.64. Shopify has a twelve month low of $38.69 and a twelve month high of $123.94.

A number of hedge funds have recently added to or reduced their stakes in SHOP. Private Advisory Group LLC raised its position in Shopify by 3.9% during the 2nd quarter. Private Advisory Group LLC now owns 4,391 shares of the software maker’s stock worth $382,000 after buying an additional 164 shares during the last quarter. Advisory Services Network LLC raised its position in Shopify by 26.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after buying an additional 298 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in Shopify by 2.1% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 19,200 shares of the software maker’s stock worth $1,668,000 after buying an additional 400 shares during the last quarter. Meridian Wealth Management LLC raised its position in Shopify by 18.5% during the 3rd quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock worth $413,000 after buying an additional 544 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in Shopify by 1.2% during the 2nd quarter. State of Tennessee Treasury Department now owns 46,703 shares of the software maker’s stock worth $4,058,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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About Shopify

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Analyst Recommendations for Shopify (NYSE:SHOP)

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