Gibbs Wealth Management Raises Stake in Shopify Inc. $SHOP

Gibbs Wealth Management increased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 32.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 34,606 shares of the software maker’s stock after buying an additional 8,384 shares during the quarter. Gibbs Wealth Management’s holdings in Shopify were worth $4,105,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Kingdom Financial Group LLC. purchased a new stake in shares of Shopify during the 4th quarter worth approximately $26,000. Curio Wealth LLC purchased a new position in Shopify in the fourth quarter valued at approximately $27,000. Evolution Wealth Management Inc. grew its holdings in Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after purchasing an additional 155 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Shopify in the fourth quarter worth $29,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Shopify in the fourth quarter valued at $31,000. Institutional investors own 69.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SHOP shares. Zacks Research upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Barclays set a $126.00 price objective on Shopify and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. BMO Capital Markets initiated coverage on shares of Shopify in a report on Friday, July 10th. They set a “market perform” rating on the stock. DA Davidson cut their price target on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $150.00 price objective on Shopify and gave the company a “buy” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $157.86.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Several recent articles highlighted Shopify’s strong growth profile, pointing to its ability to generate exceptional returns and calling it attractive for growth investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Positive Sentiment: Analyst coverage remained upbeat overall, with reports saying Wall Street sees Shopify as a buy and consensus price targets implying meaningful upside from current levels. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Another analyst-focused piece said Shopify could surge about 27.9% based on consensus estimates, suggesting expectations for continued earnings momentum. Wall Street Analysts Think Shopify (SHOP) Could Surge 27.88%: Read This Before Placing a Bet
• Neutral Sentiment: Shopify ecosystem news remained constructive, as OneMagnify earned Premier Partner status, which underscores ongoing platform adoption and partner activity. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Negative Sentiment: Offsetting the bullish commentary, Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though its new price target still implies upside. Zacks.com
• Negative Sentiment: Separate coverage noted unusually high options volume and an earlier session where Shopify lagged the broader market, suggesting traders have been active and cautious around the stock. Shopify Sees Unusually High Options Volume (NASDAQ:SHOP)

Shopify Price Performance

NASDAQ SHOP opened at $112.00 on Friday. The company’s 50 day simple moving average is $114.12 and its two-hundred day simple moving average is $122.19. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $182.19. The stock has a market capitalization of $145.34 billion, a PE ratio of 110.89, a P/E/G ratio of 2.55 and a beta of 2.58.

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.