Wedbush reaffirmed their outperform rating on shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) in a report released on Monday morning, MarketBeat.com reports. They currently have a $140.00 price objective on the software maker’s stock, up from their prior price objective of $120.00. Wedbush also issued estimates for Shopify Inc (US)’s Q1 2019 earnings at ($0.17) EPS, Q2 2019 earnings at ($0.14) EPS, Q3 2019 earnings at ($0.09) EPS, Q4 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.42) EPS.

Several other research firms have also commented on SHOP. Piper Jaffray Companies reiterated a buy rating and issued a $110.00 price objective on shares of Shopify Inc (US) in a research report on Wednesday, November 1st. Royal Bank of Canada boosted their price objective on shares of Shopify Inc (US) from $99.00 to $132.50 and gave the stock a sector perform rating in a research report on Wednesday, November 1st. National Bank Financial boosted their price objective on shares of Shopify Inc (US) from $120.00 to $150.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Oppenheimer reiterated a hold rating on shares of Shopify Inc (US) in a research report on Tuesday, October 31st. Finally, Vetr upgraded shares of Shopify Inc (US) from a buy rating to a strong-buy rating and set a $125.38 price objective on the stock in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $109.64.

Shares of Shopify Inc (NYSE:SHOP) opened at $137.56 on Monday. Shopify Inc has a 1 year low of $54.30 and a 1 year high of $138.16. The company has a quick ratio of 10.64, a current ratio of 10.64 and a debt-to-equity ratio of 0.02. The company has a market cap of $10,868.62, a PE ratio of -280.73 and a beta of 1.30.

Several hedge funds have recently made changes to their positions in the company. Whale Rock Capital Management LLC lifted its holdings in shares of Shopify Inc (US) by 23.6% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,636,189 shares of the software maker’s stock worth $165,255,000 after acquiring an additional 312,632 shares during the period. Millennium Management LLC purchased a new position in shares of Shopify Inc (US) during the 4th quarter worth about $1,538,000. Night Owl Capital Management LLC lifted its holdings in shares of Shopify Inc (US) by 21.0% during the 4th quarter. Night Owl Capital Management LLC now owns 77,420 shares of the software maker’s stock worth $7,819,000 after acquiring an additional 13,460 shares during the period. Honeycomb Asset Management LP purchased a new position in shares of Shopify Inc (US) during the 4th quarter worth about $10,100,000. Finally, QS Investors LLC lifted its holdings in shares of Shopify Inc (US) by 25.9% during the 4th quarter. QS Investors LLC now owns 3,039 shares of the software maker’s stock worth $307,000 after acquiring an additional 625 shares during the period. Institutional investors and hedge funds own 54.61% of the company’s stock.

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Shopify Inc (US) Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Analyst Recommendations for Shopify Inc (US) (NYSE:SHOP)

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