DA Davidson Issues Positive Forecast for Shopify (NASDAQ:SHOP) Stock Price

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its target price increased by DA Davidson from $185.00 to $195.00 in a research note released on Wednesday morning, MarketBeat reports. They currently have a buy rating on the software maker’s stock.

A number of other analysts have also recently weighed in on SHOP. Wedbush reissued an “outperform” rating and issued a $185.00 target price (up previously from $160.00) on shares of Shopify in a research note on Tuesday. Robert W. Baird upped their target price on shares of Shopify from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. KeyCorp upped their target price on shares of Shopify from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Loop Capital downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research report on Tuesday, July 22nd. Finally, Mizuho raised their target price on Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.89.

Shopify Stock Up 1.2%

Shares of SHOP opened at $162.92 on Wednesday. Shopify has a 12-month low of $69.84 and a 12-month high of $182.19. The firm has a market capitalization of $211.74 billion, a price-to-earnings ratio of 120.68, a P/E/G ratio of 7.53 and a beta of 2.73. The stock’s 50-day moving average price is $155.08 and its 200 day moving average price is $129.29.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a return on equity of 11.95% and a net margin of 16.65%. Shopify has set its Q4 2025 guidance at EPS. Equities research analysts expect that Shopify will post 1.12 EPS for the current year.

Institutional Trading of Shopify

Large investors have recently made changes to their positions in the business. Family Legacy Financial Solutions LLC bought a new stake in shares of Shopify during the second quarter worth $25,000. Financial Gravity Companies Inc. bought a new position in shares of Shopify in the second quarter worth about $27,000. Rothschild Investment LLC raised its stake in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new position in shares of Shopify in the third quarter worth about $27,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. 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.