Shopify (NASDAQ:SHOP) Price Target Raised to $165.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price target raised by Scotiabank from $150.00 to $165.00 in a report issued on Wednesday morning, Marketbeat.com reports. They currently have a sector perform rating on the software maker’s stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Shopify in a research report on Wednesday. BMO Capital Markets boosted their price objective on Shopify from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday. CIBC raised their target price on Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $192.00 price target (up previously from $165.00) on shares of Shopify in a report on Wednesday. Finally, Truist Financial set a $155.00 price objective on shares of Shopify and gave the company a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twenty-three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.89.

Shopify Trading Down 2.3%

SHOP opened at $152.41 on Wednesday. The business has a 50 day moving average of $155.59 and a 200-day moving average of $129.97. The stock has a market capitalization of $198.08 billion, a price-to-earnings ratio of 112.90, a P/E/G ratio of 5.85 and a beta of 2.73. Shopify has a 1-year low of $69.84 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. Equities analysts predict that Shopify will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Shopify by 2.8% during the fourth quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after acquiring an additional 584 shares during the period. Principal Financial Group Inc. lifted its position in Shopify by 517.6% during the 1st quarter. Principal Financial Group Inc. now owns 243,316 shares of the software maker’s stock valued at $23,218,000 after purchasing an additional 203,916 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Shopify by 15.8% in the 1st quarter. Concurrent Investment Advisors LLC now owns 13,804 shares of the software maker’s stock valued at $1,318,000 after purchasing an additional 1,879 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Shopify by 6.8% during the 1st quarter. TD Private Client Wealth LLC now owns 17,392 shares of the software maker’s stock worth $1,661,000 after buying an additional 1,111 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Shopify by 32.5% during the first quarter. M&T Bank Corp now owns 55,406 shares of the software maker’s stock worth $5,290,000 after buying an additional 13,590 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Company Profile

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.