Shopify (NYSE:SHOP) Price Target Raised to $130.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target raised by Oppenheimer from $90.00 to $130.00 in a research report sent to investors on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the software maker’s stock.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada lifted their target price on Shopify from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Evercore ISI lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Evercore boosted their price target on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Finally, Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Performance

SHOP opened at $108.48 on Wednesday. Shopify has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a market cap of $139.98 billion, a price-to-earnings ratio of 101.38, a PEG ratio of 3.71 and a beta of 2.36. The company’s fifty day moving average price is $81.97 and its two-hundred day moving average price is $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.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, analysts expect that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shopify

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Shopify by 9.6% during the third quarter. Geode Capital Management LLC now owns 5,387,806 shares of the software maker’s stock worth $432,573,000 after purchasing an additional 471,280 shares in the last quarter. Conway Capital Management Inc. purchased a new position in Shopify in the 3rd quarter worth approximately $864,000. M&T Bank Corp raised its position in shares of Shopify by 2.4% during the 3rd quarter. M&T Bank Corp now owns 42,051 shares of the software maker’s stock valued at $3,370,000 after buying an additional 1,001 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Shopify in the third quarter valued at $33,676,000. Finally, EWA LLC purchased a new stake in Shopify during the third quarter valued at about $214,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.