Shopify (NYSE:SHOP) Given New $100.00 Price Target at Barclays

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price boosted by Barclays from $93.00 to $100.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the software maker’s stock.

SHOP has been the subject of several other reports. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Monday. Wells Fargo & Company boosted their price target on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group raised their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, JMP Securities restated a “market outperform” rating and set a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $125.14.

Shopify Stock Performance

Shares of SHOP opened at $120.46 on Wednesday. The stock has a 50 day moving average of $111.29 and a 200 day moving average of $91.82. The company has a market capitalization of $155.65 billion, a price-to-earnings ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. Shopify has a 12 month low of $48.56 and a 12 month high of $125.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, sell-side analysts forecast that Shopify will post 0.91 earnings per share for the current year.

Institutional Trading of Shopify

Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Shopify in the fourth quarter worth $1,542,262,000. Baillie Gifford & Co. lifted its position in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. FMR LLC increased its position in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Shopify by 631.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock worth $474,187,000 after buying an additional 3,849,796 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

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.