Shopify (NASDAQ:SHOP) Price Target Raised to $150.00 at Jefferies Financial Group

Key Points

• Jefferies raised its price target on Shopify to $150 (from $125) while maintaining a "hold" rating, implying roughly a 13.48% upside from the current share price.
• The analyst consensus is a Moderate Buy with a consensus target of $163.33, based on 2 Strong Buy, 31 Buy and 10 Hold ratings.
• Shares traded at $132.18 midday; Shopify has a market cap of $172.08B, a P/E of 142.13, 50-/200-day moving averages of $137.30 and $149.14, and a one‑year range of $69.84–$182.19.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP had its price target lifted by investment analysts at Jefferies Financial Group from $125.00 to $150.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "hold" rating on the software maker's stock. Jefferies Financial Group's price target indicates a potential upside of 13.48% from the company's current price.

Several other analysts have also commented on SHOP. Arete Research set a $175.00 target price on Shopify in a report on Monday, February 2nd. ATB Cormark Capital Markets upgraded shares of Shopify from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, February 10th. Citizens Jmp decreased their target price on Shopify from $200.00 to $160.00 and set a "market outperform" rating for the company in a report on Thursday, February 12th. Citigroup reaffirmed a "buy" rating and issued a $172.00 price target (down from $195.00) on shares of Shopify in a report on Friday, February 13th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Shopify in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.33.

Shopify Price Performance

Shares of NASDAQ SHOP traded up $1.98 during midday trading on Monday, reaching $132.18. 4,412,555 shares of the stock traded hands, compared to its average volume of 13,033,493. The company's 50 day moving average is $137.30 and its 200 day moving average is $149.14. The stock has a market capitalization of $172.08 billion, a PE ratio of 142.13, a P/E/G ratio of 4.67 and a beta of 2.83. Shopify has a one year low of $69.84 and a one year high of $182.19.

Institutional Investors Weigh In On Shopify

A number of institutional investors have recently added to or reduced their stakes in the stock. Kingdom Financial Group LLC. acquired a new stake in shares of Shopify during the fourth quarter worth $26,000. Financial Gravity Companies Inc. purchased a new position in shares of Shopify in the 2nd quarter worth about $27,000. Rothschild Investment LLC grew 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 during the period. Heartwood Wealth Advisors LLC purchased a new position in shares of Shopify during the 3rd quarter valued at $27,000. Finally, Curio Wealth LLC purchased a new stake in Shopify during the fourth quarter valued at about $27,000. 69.27% of the stock is owned by institutional investors and hedge funds.

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.

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