Shopify Inc. (NYSE:SHOP) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have earned a consensus recommendation of “Moderate Buy” from the forty-one analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $94.95.

SHOP has been the subject of several recent research reports. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Oppenheimer upped their price objective on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their target price on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada upped their price target on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Scotiabank lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 24th.

Shopify Stock Up 3.8 %

Shares of NYSE:SHOP opened at $111.03 on Tuesday. The company has a 50 day moving average of $86.25 and a 200-day moving average of $72.53. Shopify has a one year low of $48.56 and a one year high of $115.62. The stock has a market cap of $143.27 billion, a price-to-earnings ratio of 103.77, a P/E/G ratio of 2.81 and a beta of 2.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

Hedge Funds Weigh In On Shopify

Hedge funds have recently bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group raised its position in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth $33,000. Brooklyn Investment Group bought a new position in shares of Shopify in the third quarter worth $33,000. Finally, Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the period. 69.27% of the stock is owned by institutional investors.

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.