Shopify (NYSE:SHOP) Price Target Raised to $125.00 at DA Davidson

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP had its price target upped by DA Davidson from $115.00 to $125.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. DA Davidson's price objective points to a potential upside of 14.93% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Loop Capital cut their target price on shares of Shopify from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Oppenheimer cut their price objective on shares of Shopify from $150.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Atb Cap Markets raised shares of Shopify from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of Shopify from $106.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, UBS Group cut their price objective on shares of Shopify from $125.00 to $110.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $115.66.

Shopify Price Performance

SHOP traded up $3.42 during midday trading on Monday, reaching $108.76. 3,406,735 shares of the company's stock were exchanged, compared to its average volume of 9,325,908. The stock has a market capitalization of $140.83 billion, a PE ratio of 70.16, a P/E/G ratio of 4.82 and a beta of 2.63. The business's 50-day moving average price is $98.64 and its 200 day moving average price is $104.99. Shopify has a 1-year low of $48.56 and a 1-year high of $129.38.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHOP. Allianz SE purchased a new position in shares of Shopify during the 4th quarter valued at $27,000. PFG Private Wealth Management LLC raised its position in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in Shopify during the fourth quarter worth about $30,000. Smithfield Trust Co grew its stake in Shopify by 149.2% during the first quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock worth $30,000 after buying an additional 188 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of Shopify during the first quarter valued at approximately $30,000. Institutional investors own 69.27% of the company's stock.

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.

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