Shopify (NYSE:SHOP) Given New $175.00 Price Target at Citigroup

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective hoisted by Citigroup from $143.00 to $175.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other equities research analysts have also issued reports on SHOP. Mizuho lifted their target price 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. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Oppenheimer lifted their price target on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Robert W. Baird increased their price objective on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.80.

Shopify Stock Up 3.4 %

Shares of NYSE:SHOP opened at $123.98 on Tuesday. The company has a market cap of $160.19 billion, a price-to-earnings ratio of 115.87, a PEG ratio of 2.49 and a beta of 2.47. Shopify has a one year low of $48.56 and a one year high of $125.95. The firm has a fifty day moving average price of $111.05 and a two-hundred day moving average price of $91.37. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SHOP. Jennison Associates LLC purchased a new position in Shopify in the fourth quarter worth about $132,323,000. Swiss National Bank grew its holdings in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC lifted its holdings in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after purchasing an additional 7,027 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

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.