Shopify (NASDAQ:SHOP) Price Target Raised to $190.00 at BMO Capital Markets

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price target boosted by BMO Capital Markets from $180.00 to $190.00 in a research report released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the software maker’s stock.

Several other analysts also recently commented on SHOP. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 target price on shares of Shopify in a report on Wednesday. Phillip Securities downgraded shares of Shopify from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Stifel Nicolaus set a $175.00 price objective on Shopify in a report on Tuesday. Loop Capital lowered Shopify from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Tuesday, July 22nd. Finally, Wedbush reissued an “outperform” rating and set a $185.00 price target (up from $160.00) on shares of Shopify in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $163.89.

Shopify Trading Up 1.2%

SHOP stock opened at $162.92 on Wednesday. Shopify has a 1-year low of $69.84 and a 1-year high of $182.19. The business’s 50 day simple moving average is $155.08 and its 200 day simple moving average is $129.29. The firm has a market capitalization of $211.74 billion, a PE ratio of 120.68, a PEG ratio of 7.53 and a beta of 2.73.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly 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 11.95% and a net margin of 16.65%.The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Trading of Shopify

Several large investors have recently made changes to their positions in SHOP. Norges Bank acquired a new position in Shopify during the second quarter valued at approximately $1,794,952,000. Jennison Associates LLC boosted its holdings in shares of Shopify by 64.3% in the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after purchasing an additional 7,403,821 shares in the last quarter. Nuveen LLC bought a new position in shares of Shopify in the 1st quarter valued at $667,392,000. Brown Advisory Inc. raised its holdings in shares of Shopify by 5,193.6% during the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock worth $238,419,000 after buying an additional 2,027,839 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after buying an additional 1,781,530 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Company Profile

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.