National Bank Financial Issues Positive Forecast for Shopify (NASDAQ:SHOP) Stock Price

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective upped by National Bank Financial from $180.00 to $185.00 in a research note released on Wednesday,BayStreet reports. The firm currently has an outperform rating on the software maker’s stock.

SHOP has been the topic of several other reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Shopify in a report on Wednesday. UBS Group restated a “neutral” rating and set a $145.00 price objective (up from $130.00) on shares of Shopify in a report on Thursday, August 6th. BMO Capital Markets set a $165.00 price objective on Shopify and gave the stock an “outperform” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on Shopify from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $165.00 target price on shares of Shopify in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $178.79.

Shopify Trading Up 7.3%

Shares of Shopify stock opened at $153.03 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The business has a fifty day simple moving average of $152.75 and a two-hundred day simple moving average of $130.11. Shopify has a 1 year low of $94.00 and a 1 year high of $180.88. The company has a market capitalization of $196.90 billion, a price-to-earnings ratio of 93.31, a P/E/G ratio of 2.94 and a beta of 2.65.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 3rd. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.33 by $0.16. The firm had revenue of $3.74 billion for the quarter. Shopify had a net margin of 15.01% and a return on equity of 13.99%. Shopify’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Research analysts forecast that Shopify will post 1.46 EPS for the current year.

Institutional Trading of Shopify

A number of institutional investors have recently modified their holdings of SHOP. Swiss National Bank grew its stake in shares of Shopify by 27.0% in the first quarter. Swiss National Bank now owns 4,115,300 shares of the software maker’s stock worth $487,580,000 after purchasing an additional 876,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Shopify in the third quarter valued at $102,751,000. The Manufacturers Life Insurance Company increased its holdings in Shopify by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock valued at $998,137,000 after purchasing an additional 660,198 shares during the period. Bank of Nova Scotia raised its position in Shopify by 24.2% during the 1st quarter. Bank of Nova Scotia now owns 3,196,004 shares of the software maker’s stock worth $379,111,000 after purchasing an additional 621,893 shares during the last quarter. Finally, Nykredit A S bought a new position in Shopify during the 2nd quarter worth $41,959,000. 69.27% of the stock is currently owned by institutional investors.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported Q3 revenue of $3.74 billion, up 31.6% year over year, and earnings per share of $0.49, above consensus. Free cash flow rose 61% to $816 million, while operating income increased 66%. Read More.
• Positive Sentiment: Analyst actions were broadly supportive: National Bank Financial raised its target to $185 and reaffirmed “outperform,” while RBC maintained “outperform” with a $200 target. UBS raised its target to $160 but kept a neutral rating. Read More. · Read More. · Read More.
• Positive Sentiment: ARK Invest reportedly bought $12.5 million of Shopify shares during the post-earnings weakness, providing a vote of confidence from a prominent growth investor. Read More.
• Neutral Sentiment: Shopify highlighted growing AI-driven shopping activity, expanding payments penetration and rising Shop Pay usage. These initiatives could support future growth, though their financial contribution remains to be proven. Read More.
• Negative Sentiment: The quarter fell short of expectations on gross merchandise volume (about $119.1 billion) and subscription revenue; some reports also cited a modest revenue miss. The shortfalls triggered the recent sell-off and keep expectations for holiday-quarter execution high. Read More.
• Negative Sentiment: Valuation remains a risk: Shopify trades at a rich earnings multiple, leaving the stock vulnerable if growth or margins disappoint. Cantor Fitzgerald cut its target to $150 and retained a neutral rating. Read More.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.