Shopify (NASDAQ:SHOP) Given New $155.00 Price Target at National Bank Financial

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective lowered by equities research analysts at National Bank Financial from $200.00 to $155.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the software maker’s stock. National Bank Financial’s price target points to a potential upside of 44.27% from the company’s current price.

Several other brokerages also recently issued reports on SHOP. DZ Bank raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Benchmark decreased their price objective on shares of Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Jefferies Financial Group reissued a “hold” rating and issued a $140.00 price objective (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. Finally, Wedbush decreased their price objective on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $157.17.

Shopify Trading Up 2.4%

Shares of NASDAQ:SHOP traded up $2.54 during trading on Wednesday, reaching $107.44. The company’s stock had a trading volume of 5,657,252 shares, compared to its average volume of 11,371,935. Shopify has a 12 month low of $94.00 and a 12 month high of $182.19. The firm’s 50 day simple moving average is $115.47 and its two-hundred day simple moving average is $134.78. The stock has a market capitalization of $139.42 billion, a PE ratio of 106.38, a price-to-earnings-growth ratio of 2.89 and a beta of 2.64.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. Research analysts anticipate that Shopify will post 1.36 EPS for the current fiscal year.

Institutional Trading of Shopify

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after acquiring an additional 743,803 shares in the last quarter. Norges Bank purchased a new position in Shopify during the fourth quarter valued at approximately $2,611,797,000. Invesco Ltd. increased its holdings in Shopify by 9.8% during the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after buying an additional 1,252,074 shares during the period. Geode Capital Management LLC increased its holdings in Shopify by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after buying an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Shopify by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after buying an additional 827,643 shares during the period. Institutional investors own 69.27% of the company’s stock.

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.