Shopify (NASDAQ:SHOP) Price Target Raised to $150.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective upped by Jefferies Financial Group from $125.00 to $150.00 in a research note released on Monday,Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

Several other brokerages have also recently issued reports on SHOP. Moffett Nathanson raised Shopify from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Monday, February 9th. Stifel Nicolaus set a $115.00 target price on shares of Shopify and gave the company a “hold” rating in a report on Wednesday, February 11th. DZ Bank upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Wolfe Research upgraded shares of Shopify from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $126.00 price objective (down from $181.00) on shares of Shopify in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $163.33.

Shopify Stock Performance

SHOP stock opened at $129.52 on Monday. The company’s fifty day moving average price is $135.29 and its 200-day moving average price is $148.89. Shopify has a one year low of $69.84 and a one year high of $182.19. The company has a market capitalization of $168.61 billion, a PE ratio of 139.27, a price-to-earnings-growth ratio of 4.64 and a beta of 2.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kingdom Financial Group LLC. purchased a new stake in Shopify during the fourth quarter worth $26,000. Financial Gravity Companies Inc. purchased a new stake in Shopify during the second quarter valued at approximately $27,000. Rothschild Investment LLC boosted its position in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Heartwood Wealth Advisors LLC purchased a new stake in Shopify in the third quarter valued at about $27,000. Finally, Curio Wealth LLC acquired a new stake in Shopify in the 4th quarter worth approximately $27,000. 69.27% of the stock is currently owned by institutional investors.

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.