Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP's stock had its "hold" rating reaffirmed by analysts at TD Cowen in a research report issued on Friday,Benzinga reports. They currently have a $156.00 target price on the software maker's stock. TD Cowen's price target would indicate a potential downside of 2.95% from the company's previous close.
Several other research analysts have also weighed in on SHOP. Zacks Research raised Shopify to a "hold" rating in a research report on Tuesday, August 12th. DA Davidson raised their target price on Shopify from $125.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Canaccord Genuity Group lifted their target price on Shopify from $115.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Stifel Nicolaus lifted their target price on Shopify from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Finally, The Goldman Sachs Group upped their target price on Shopify from $120.00 to $176.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Twenty-two analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $150.59.
Check Out Our Latest Report on SHOP
Shopify Price Performance
Shopify stock traded up $9.45 during mid-day trading on Friday, hitting $160.75. The company's stock had a trading volume of 7,619,046 shares, compared to its average volume of 9,746,780. The firm's 50 day moving average is $142.04 and its 200 day moving average is $116.66. The company has a market cap of $208.92 billion, a PE ratio of 89.80, a price-to-earnings-growth ratio of 7.09 and a beta of 2.72. Shopify has a 52-week low of $69.84 and a 52-week high of $161.12.
Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the firm posted $0.26 EPS. The business's revenue was up 31.1% compared to the same quarter last year. As a group, analysts forecast that Shopify will post 1.12 EPS for the current year.
Institutional Investors Weigh In On Shopify
Several institutional investors have recently made changes to their positions in the stock. Rothschild Investment LLC lifted its position in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock valued at $27,000 after buying an additional 75 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Shopify by 13.9% during the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker's stock valued at $72,000 after buying an additional 77 shares during the last quarter. N.E.W. Advisory Services LLC lifted its position in shares of Shopify by 16.2% during the second quarter. N.E.W. Advisory Services LLC now owns 595 shares of the software maker's stock valued at $69,000 after buying an additional 83 shares during the last quarter. LM Advisors LLC lifted its position in shares of Shopify by 2.2% during the second quarter. LM Advisors LLC now owns 4,045 shares of the software maker's stock valued at $467,000 after buying an additional 88 shares during the last quarter. Finally, Prosperity Consulting Group LLC lifted its position in shares of Shopify by 1.5% during the second quarter. Prosperity Consulting Group LLC now owns 6,011 shares of the software maker's stock valued at $693,000 after buying an additional 90 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.
About Shopify
(
Get Free Report)
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.
See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Shopify, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.
While Shopify currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.