Shopify Inc. (NASDAQ:SHOP) Receives $162.64 Average PT from Brokerages

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) has been assigned an average rating of “Moderate Buy” from the forty-three ratings firms that are presently covering the company, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, thirty-one have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $163.3333.

SHOP has been the topic of several research analyst reports. Wolfe Research upgraded shares of Shopify from a “hold” rating to an “outperform” rating in a research report on Tuesday, January 6th. Phillip Securities upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Raymond James Financial reissued a “market perform” rating on shares of Shopify in a research report on Monday, December 1st. Scotiabank upgraded Shopify from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $165.00 to $200.00 in a research note on Thursday, January 8th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Shopify in a research report on Monday, December 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC increased its holdings in Shopify by 1.7% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after buying an additional 59 shares during the period. Accurate Wealth Management LLC lifted its holdings in shares of Shopify by 2.0% during the 3rd quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock worth $526,000 after acquiring an additional 67 shares during the period. Moloney Securities Asset Management LLC lifted its holdings in shares of Shopify by 1.8% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock worth $587,000 after acquiring an additional 70 shares during the period. Rothschild Investment LLC boosted its position in shares of Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of Shopify by 0.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 75 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

Shopify Price Performance

NASDAQ:SHOP opened at $129.52 on Monday. The stock has a market cap of $168.61 billion, a P/E ratio of 139.27, a PEG ratio of 4.64 and a beta of 2.83. Shopify has a one year low of $69.84 and a one year high of $182.19. The company has a fifty day moving average price of $135.29 and a 200 day moving average price of $148.89.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.