Barclays Issues Positive Forecast for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price raised by Barclays from $70.00 to $93.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

A number of other research analysts have also recently weighed in on the stock. Argus raised shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Wells Fargo & Company raised their price target on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Robert W. Baird increased their price objective on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup boosted their target price on shares of Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Up 5.7 %

Shopify stock opened at $115.13 on Wednesday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The firm has a market capitalization of $148.56 billion, a price-to-earnings ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. The stock’s fifty day moving average is $79.47 and its two-hundred day moving average is $70.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Analysts predict that Shopify will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Moser Wealth Advisors LLC grew its position in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after purchasing an additional 129 shares during the period. Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. CVA Family Office LLC increased its stake in Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC lifted its holdings in Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after buying an additional 145 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

About Shopify

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.