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

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been given a consensus rating of “Moderate Buy” by the forty ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $100.31.

Several analysts recently weighed in on SHOP shares. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Truist Financial lifted their price target on shares of Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Piper Sandler increased their price objective on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their target price on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price target on shares of Shopify in a report on Monday, October 7th.

Shopify Trading Down 0.3 %

Shares of SHOP stock opened at $101.48 on Wednesday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $120.72. The stock’s fifty day moving average price is $108.26 and its two-hundred day moving average price is $85.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market cap of $131.12 billion, a PE ratio of 94.84, a P/E/G ratio of 2.98 and a beta of 2.46.

Hedge Funds Weigh In On Shopify

Large investors have recently modified their holdings of the company. RMR Wealth Builders increased its stake in Shopify by 2.9% during the 4th quarter. RMR Wealth Builders now owns 10,846 shares of the software maker’s stock valued at $1,153,000 after purchasing an additional 305 shares in the last quarter. ERn Financial LLC bought a new stake in shares of Shopify during the fourth quarter worth about $349,000. Redhawk Wealth Advisors Inc. raised its holdings in shares of Shopify by 3.3% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after acquiring an additional 107 shares during the last quarter. Smith Anglin Financial LLC acquired a new stake in shares of Shopify in the 4th quarter worth about $212,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Shopify by 45.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 862 shares of the software maker’s stock valued at $92,000 after acquiring an additional 271 shares in the last quarter. 69.27% of the stock is currently 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.