Shopify (NYSE:SHOP) (TSE:SHOP) had its target price lifted by Robert W. Baird from $208.00 to $269.00 in a report issued on Tuesday morning, The Fly reports. The firm currently has an outperform rating on the software maker’s stock.
A number of other equities research analysts have also commented on the stock. Wedbush reaffirmed an outperform rating and issued a $177.00 price objective on shares of Shopify in a research note on Monday, January 28th. Zacks Investment Research downgraded Shopify from a hold rating to a sell rating in a report on Thursday, January 3rd. Royal Bank of Canada upgraded Shopify from a sector perform rating to an outperform rating and boosted their price objective for the company from $180.00 to $230.00 in a report on Wednesday, February 13th. Rosenblatt Securities boosted their price objective on Shopify from $190.00 to $212.00 and gave the company a buy rating in a report on Thursday, February 14th. Finally, Macquarie boosted their price objective on Shopify to $230.00 and gave the company an outperform rating in a report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $236.00.
NYSE SHOP traded up $7.80 on Tuesday, hitting $263.34. The company’s stock had a trading volume of 64,225 shares, compared to its average volume of 1,544,471. The company has a debt-to-equity ratio of 0.01, a quick ratio of 15.35 and a current ratio of 15.35. Shopify has a 1-year low of $117.64 and a 1-year high of $260.82. The stock has a market cap of $26.88 billion, a P/E ratio of -430.51 and a beta of 1.57.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Financial Planning LLC acquired a new stake in shares of Shopify during the fourth quarter worth about $26,000. We Are One Seven LLC acquired a new position in shares of Shopify during the fourth quarter worth about $27,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Shopify during the fourth quarter worth about $27,000. Mackey Komara & Dankovich LLC acquired a new position in shares of Shopify during the fourth quarter worth about $28,000. Finally, Optimum Investment Advisors acquired a new position in shares of Shopify during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 64.96% of the company’s stock.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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