National Bank Financial Analysts Give Shopify (NASDAQ:SHOP) a $155.00 Price Target

National Bank Financial set a $155.00 price objective on Shopify (NASDAQ:SHOP) (TSE:SHOP) in a research note released on Monday,BayStreet.CA reports. The firm currently has an outperform rating on the software maker’s stock.

A number of other research firms also recently weighed in on SHOP. Weiss Ratings downgraded Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $180.00 price target on shares of Shopify in a research report on Tuesday, May 5th. Jefferies Financial Group upgraded Shopify from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $160.00 in a research report on Sunday, July 12th. BMO Capital Markets assumed coverage on Shopify in a research note on Friday, July 10th. They issued a “market perform” rating for the company. Finally, UBS Group reaffirmed a “neutral” rating on shares of Shopify in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $157.86.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $118.42 on Monday. The business’s 50 day simple moving average is $113.83 and its 200 day simple moving average is $122.51. Shopify has a 1 year low of $94.00 and a 1 year high of $182.19. The company has a market capitalization of $153.67 billion, a P/E ratio of 117.25, a P/E/G ratio of 2.67 and a beta of 2.58.

Hedge Funds Weigh In On Shopify

Several large investors have recently modified their holdings of SHOP. Kingdom Financial Group LLC. bought a new position in Shopify during the fourth quarter worth $26,000. Curio Wealth LLC bought a new stake in Shopify during the fourth quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Shopify during the fourth quarter valued at $29,000. Lloyd Advisory Services LLC. acquired a new stake in Shopify during the 4th quarter worth about $31,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Shopify during the 4th quarter worth about $31,000. Institutional investors own 69.27% of the company’s stock.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s ecosystem gained a credibility boost after OneMagnify said it reached Shopify Premier Partner status, a top-tier designation that highlights strong technical capability and enterprise commerce expertise. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Positive Sentiment: DoorDash announced a native integration for U.S. brick-and-mortar Shopify merchants, allowing them to sell through DoorDash with synced inventory and easier onboarding, which could expand Shopify merchants’ reach and support platform adoption. Shopify (SHOP) Gains A New DoorDash Link As Its Valuation Narrative Faces A Test
• Neutral Sentiment: Shopify was highlighted in several analyst and media pieces as a closely watched software name, with Morgan Stanley saying sentiment across software stocks has become too negative. That may support the broader valuation narrative, but it is not a direct catalyst on its own. Morgan Stanley Analysts Say Sentiment Has Gotten ‘Too Negative’ on Software Stocks. These Are Their Picks
• Negative Sentiment: Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though the new $130 price target still implies some upside from recent levels. Zacks.com downgrade coverage
• Negative Sentiment: Recent trading commentary also noted Shopify has been sinking while the broader market gained, reinforcing that investors are taking profits or reassessing the near-term valuation after a strong run. Shopify (SHOP) Stock Sinks As Market Gains: What You Should Know

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.