JPMorgan Chase & Co. Issues Positive Forecast for Shopify (NASDAQ:SHOP) Stock Price

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $179.00 to $180.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.07% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a report on Wednesday, October 8th. DA Davidson lifted their price objective on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets lifted their price objective on Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on Shopify from $120.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, TD Securities lifted their price objective on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $163.89.

Shopify Price Performance

Shares of Shopify stock traded up $4.09 during trading hours on Wednesday, hitting $165.03. 5,899,702 shares of the company’s stock traded hands, compared to its average volume of 9,685,051. Shopify has a 12-month low of $69.84 and a 12-month high of $182.19. The stock has a market capitalization of $214.48 billion, a price-to-earnings ratio of 92.20, a PEG ratio of 8.10 and a beta of 2.73. The company has a fifty day simple moving average of $154.62 and a 200-day simple moving average of $129.05.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, analysts forecast that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SHOP. Heartwood Wealth Advisors LLC bought a new stake in Shopify in the 3rd quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in Shopify in the 2nd quarter worth approximately $25,000. Rothschild Investment LLC lifted its position in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Financial Gravity Companies Inc. bought a new stake in Shopify in the second quarter valued at approximately $27,000. Finally, Tradewinds Capital Management LLC lifted its position in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

About Shopify

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.