Shopify (NASDAQ:SHOP) Price Target Raised to $165.00 at Scotiabank

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective increased by equities research analysts at Scotiabank from $150.00 to $165.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the software maker’s stock. Scotiabank’s price objective indicates a potential upside of 2.36% from the company’s current price.

A number of other research firms also recently weighed in on SHOP. Evercore ISI upped their target price on shares of Shopify from $120.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research note on Wednesday, October 8th. Phillip Securities cut shares of Shopify from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 12th. Zacks Research upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Wedbush reissued an “outperform” rating and issued a $185.00 price target (up from $160.00) on shares of Shopify in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.97.

Shopify Stock Performance

Shares of NASDAQ:SHOP opened at $161.20 on Wednesday. The firm has a market capitalization of $209.51 billion, a P/E ratio of 90.06, a P/E/G ratio of 8.10 and a beta of 2.73. The stock has a 50 day moving average price of $154.62 and a 200-day moving average price of $129.05. Shopify has a 52-week low of $69.84 and a 52-week high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 12.30% and a net margin of 23.42%. Shopify has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Shopify will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Shopify in the 2nd quarter worth $1,794,952,000. Jennison Associates LLC boosted its position in shares of Shopify by 64.3% during the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after buying an additional 7,403,821 shares during the last quarter. Nuveen LLC bought a new stake in Shopify in the 1st quarter worth about $667,392,000. Brown Advisory Inc. raised its position in Shopify by 5,193.6% in the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock worth $238,419,000 after buying an additional 2,027,839 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock valued at $1,247,007,000 after acquiring an additional 1,781,530 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.