National Bank Financial Issues Positive Forecast for Shopify (NASDAQ:SHOP) Stock Price

Key Points

• National Bank Financial raised Shopify’s price target from $180 to $185 and maintained an “outperform” rating, implying 21.93% upside from the stock’s current price.
• Shopify reported quarterly EPS of $0.49, beating the $0.33 consensus estimate, while revenue rose 31.6% year over year to $3.74 billion.
• Analyst sentiment is broadly positive: MarketBeat reported a “Moderate Buy” consensus and an average price target of $178.74, though recent shortfalls in some operating metrics contributed to a sell-off.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP had its price target hoisted by equities research analysts at National Bank Financial from $180.00 to $185.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm presently has an "outperform" rating on the software maker's stock. National Bank Financial's target price indicates a potential upside of 21.93% from the stock's current price.

SHOP has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Shopify from $185.00 to $200.00 and gave the company an "overweight" rating in a report on Tuesday, October 6th. Evercore reissued an "outperform" rating and issued a $175.00 target price (up from $135.00) on shares of Shopify in a report on Wednesday, August 5th. DA Davidson set a $180.00 target price on Shopify and gave the company a "buy" rating in a research note on Tuesday. Citigroup boosted their price objective on shares of Shopify from $196.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, October 27th. Finally, Robert W. Baird increased their target price on Shopify from $160.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $178.74.

Shopify Stock Up 6.4%

Shopify stock traded up $9.16 during trading on Wednesday, reaching $151.73. The stock had a trading volume of 8,003,746 shares, compared to its average volume of 10,272,702. Shopify has a 52-week low of $94.00 and a 52-week high of $180.88. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock has a market cap of $195.22 billion, a PE ratio of 102.52, a P/E/G ratio of 3.23 and a beta of 2.65. The business has a 50 day moving average price of $152.77 and a 200 day moving average price of $130.13.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings data on Tuesday, November 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.16. Shopify had a return on equity of 12.58% and a net margin of 14.53%. The business had revenue of $3.74 billion during the quarter. During the same period in the prior year, the company posted $0.34 earnings per share. The company's revenue was up 31.6% compared to the same quarter last year. On average, analysts predict that Shopify will post 1.46 EPS for the current year.

Institutional Trading of Shopify

A number of hedge funds have recently made changes to their positions in the stock. Norris Financial Group LLC acquired a new stake in shares of Shopify in the first quarter worth about $1,586,000. Infusive Asset Management Inc. grew its holdings in Shopify by 27.4% in the 1st quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker's stock valued at $5,173,000 after buying an additional 9,374 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in Shopify by 18.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker's stock valued at $6,876,000 after buying an additional 9,096 shares during the last quarter. Ninepoint Partners LP bought a new position in Shopify in the 2nd quarter worth approximately $29,027,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Shopify by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker's stock worth $998,137,000 after acquiring an additional 660,198 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify News Roundup

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Royal Bank of Canada reaffirmed its “outperform” rating and set a $200 price target; Wedbush also reiterated “outperform,” with a $176 target. Read More.
• Positive Sentiment: ARK Invest bought about $12.5 million of Shopify shares during the sell-off, signaling confidence in the company despite the weaker-than-expected metrics. Read More.
• Positive Sentiment: Shopify reported roughly 32% year-over-year revenue growth, and call highlights pointed to rising AI-driven shopping traffic, greater payments adoption and cost discipline. Free cash flow also rose 61% to $816 million. Read More.
• Neutral Sentiment: Call-option purchases were unusually high—125% above typical volume—suggesting increased bullish positioning, though options activity alone does not establish the direction of future trading.
• Negative Sentiment: Despite beating earnings estimates, Shopify’s Q3 GMV and subscription revenue fell short of forecasts, and some reports cited a modest revenue miss. Those shortfalls triggered the recent sell-off; investors may also be wary of a premium valuation. Read More.
• Negative Sentiment: Not all analyst updates were supportive: Rosenblatt cut its price target to $180, while Cantor Fitzgerald lowered its target to $150 and maintained a “neutral” rating. Read More.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants' own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.

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