Shopify (NYSE:SHOP) Price Target Raised to $144.00

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP had its target price hoisted by investment analysts at Morgan Stanley from $126.00 to $144.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has an "overweight" rating on the software maker's stock. Morgan Stanley's target price would indicate a potential upside of 12.19% from the company's previous close.

Several other equities research analysts have also recently commented on SHOP. Mizuho boosted their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. New Street Research assumed coverage on Shopify in a report on Friday, January 10th. They issued a "neutral" rating and a $115.00 price target on the stock. Evercore ISI increased their price objective on Shopify from $125.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday. Scotiabank upped their price target on Shopify from $115.00 to $120.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 price objective on shares of Shopify in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and an average target price of $126.21.

Shopify Trading Up 0.6 %

Shares of Shopify stock traded up $0.71 during trading hours on Wednesday, hitting $128.36. The company's stock had a trading volume of 8,508,068 shares, compared to its average volume of 6,434,349. The company has a market capitalization of $165.85 billion, a PE ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock has a 50 day moving average of $111.90 and a 200 day moving average of $92.98. Shopify has a 12 month low of $48.56 and a 12 month high of $128.57.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Analysts predict that Shopify will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidemark LLC boosted its position in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker's stock valued at $276,000 after acquiring an additional 90 shares during the period. Howland Capital Management LLC boosted its holdings in Shopify by 2.0% in the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker's stock valued at $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont grew its position in shares of Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker's stock worth $118,000 after purchasing an additional 100 shares in the last quarter. First United Bank & Trust increased its holdings in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker's stock worth $488,000 after purchasing an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

About Shopify

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.