Shopify (NASDAQ:SHOP) Given New $185.00 Price Target at Citizens Jmp

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its target price upped by research analysts at Citizens Jmp from $150.00 to $185.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the software maker’s stock. Citizens Jmp’s target price would indicate a potential upside of 28.26% from the stock’s current price.

Several other equities analysts also recently weighed in on SHOP. National Bank Financial reissued an “outperform” rating on shares of Shopify in a research report on Wednesday. Rothschild & Co Redburn set a $130.00 price objective on shares of Shopify and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of Shopify in a research report on Wednesday, May 6th. Benchmark reissued a “buy” rating on shares of Shopify in a research note on Wednesday, July 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.97.

Shopify Trading Up 17.0%

SHOP opened at $144.24 on Thursday. The firm has a market cap of $187.17 billion, a P/E ratio of 142.81, a P/E/G ratio of 2.66 and a beta of 2.58. Shopify has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a 50-day moving average of $117.98 and a 200 day moving average of $119.65.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.58 billion for the quarter. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was up 33.7% compared to the same quarter last year. On average, research analysts forecast that Shopify will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of institutional investors have recently made changes to their positions in the business. Kingdom Financial Group LLC. purchased a new position in shares of Shopify in the fourth quarter worth $26,000. Curio Wealth LLC acquired a new stake in Shopify during the 4th quarter worth about $27,000. Evolution Wealth Management Inc. boosted its position in Shopify by 203.9% in the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after buying an additional 155 shares during the last quarter. Graney & King LLC purchased a new position in shares of Shopify during the 1st quarter valued at about $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Shopify in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported second-quarter revenue of $3.58 billion, up 33.7% year over year, while earnings of $0.42 per share exceeded the roughly $0.40 analyst consensus. Revenue, gross profit, GMV, and free cash flow all grew by more than 30%, with free-cash-flow margin reaching 18%. Shopify Delivers Big: 30%+ Growth Across GMV, Revenue, Gross Profit and Free Cash Flow
• Positive Sentiment: Third-quarter revenue guidance of $3.7 billion to $3.8 billion, implying low-30% growth, was above the approximately $3.6 billion consensus estimate. The outlook signals that recent momentum may continue despite concerns about AI competition and margin pressure.
• Positive Sentiment: Shopify said AI-referred traffic and orders from platforms such as ChatGPT and Gemini tripled year over year. Management characterized AI companies as partners that are directing shoppers and merchants to Shopify rather than replacing the platform. Shopify executive discusses AI and entrepreneurship
• Positive Sentiment: Analysts raised their forecasts following the results. Goldman Sachs lifted its price target from $170 to $194 and maintained a “buy” rating, suggesting further upside from the referenced $144.24 price. Shopify analysts increase forecasts following Q2 earnings
• Neutral Sentiment: Cantor Fitzgerald raised its target from $127 to $145 but kept a “neutral” rating, indicating that much of the improved outlook may already be reflected in the stock.
• Negative Sentiment: At approximately 143 times earnings, Shopify remains richly valued, leaving the stock vulnerable if growth slows, AI investments weigh on margins, or expectations rise faster than results.

Shopify Company Profile

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.