Shopify (NYSE:SHOP) Given New $170.00 Price Target at ATB Capital

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by ATB Capital from $145.00 to $170.00 in a report published on Wednesday,BayStreet.CA reports. ATB Capital currently has a sector perform rating on the software maker’s stock.

Several other equities research analysts have also weighed in on SHOP. Barclays raised their target price on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI boosted their price objective on shares of Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer increased their target price on shares of Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Stock Down 2.5 %

Shares of NYSE SHOP opened at $120.46 on Wednesday. The stock has a market cap of $155.65 billion, a P/E ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. The business’s fifty day simple moving average is $111.29 and its 200-day simple moving average is $91.82. 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 issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 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, equities analysts predict that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Trading of Shopify

Several hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. grew its position in Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the period. Vanguard Group Inc. boosted its stake in shares of Shopify by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after acquiring an additional 781,162 shares during the last quarter. FMR LLC grew its holdings 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 worth $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the last quarter. Finally, Norges Bank purchased a new stake in Shopify in the 4th quarter worth approximately $1,542,262,000. 69.27% of the stock is owned by institutional investors and hedge funds.

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.