Shopify (NYSE:SHOP) Given New $126.00 Price Target at Robert W. Baird

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by Robert W. Baird from $90.00 to $126.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

A number of other research analysts have also recently issued reports on the company. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Tuesday, September 17th. Scotiabank lifted their price target on Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wolfe Research started coverage on shares of Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 target price for the company. Finally, Evercore upped their target price on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Trading Down 0.6 %

NYSE:SHOP opened at $108.48 on Wednesday. The company has a 50-day moving average price of $81.97 and a 200-day moving average price of $71.02. The company has a current ratio of 7.10, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market cap of $139.98 billion, a price-to-earnings ratio of 101.38, a P/E/G ratio of 3.71 and a beta of 2.36. Shopify has a 12 month low of $48.56 and a 12 month high of $115.62.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.60%. Equities analysts predict that Shopify will post 0.76 EPS for the current year.

Institutional Trading of Shopify

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its stake in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. Capital World Investors boosted its position in shares of Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. grew its stake in Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after acquiring an additional 713,064 shares in the last quarter. FMR LLC increased its holdings in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

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.