Shopify (NYSE:SHOP) Price Target Raised to $1,750.00 at Roth Capital

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target hoisted by Roth Capital from $1,530.00 to $1,750.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a buy rating on the software maker’s stock.

Other equities analysts also recently issued reports about the company. Loop Capital raised their price objective on Shopify from $1,400.00 to $1,600.00 and gave the stock a buy rating in a report on Wednesday, June 30th. Morgan Stanley raised their target price on Shopify from $1,300.00 to $1,400.00 and gave the company an equal weight rating in a report on Thursday, April 29th. Susquehanna raised their target price on Shopify from $1,500.00 to $1,800.00 and gave the company a positive rating in a report on Thursday. Guggenheim set a $1,442.63 target price on Shopify and gave the company a hold rating in a report on Sunday. Finally, Evercore ISI began coverage on Shopify in a research note on Tuesday, April 13th. They set an in-line rating and a $1,360.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $1,486.50.

SHOP opened at $1,600.27 on Thursday. The company has a current ratio of 17.13, a quick ratio of 17.13 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $198.96 billion, a price-to-earnings ratio of 124.21, a P/E/G ratio of 39.97 and a beta of 1.45. Shopify has a 52 week low of $839.40 and a 52 week high of $1,587.74. The firm’s fifty day moving average is $1,351.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, April 28th. The software maker reported $2.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $1.27. Shopify had a return on equity of 6.52% and a net margin of 46.67%. The firm had revenue of $988.70 million for the quarter, compared to the consensus estimate of $851.43 million. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 110.4% compared to the same quarter last year. On average, research analysts forecast that Shopify will post 1.53 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stonebridge Capital Advisors LLC acquired a new position in shares of Shopify in the 1st quarter worth $30,000. Pinnacle Bancorp Inc. grew its holdings in shares of Shopify by 133.3% during the first quarter. Pinnacle Bancorp Inc. now owns 28 shares of the software maker’s stock valued at $31,000 after buying an additional 16 shares in the last quarter. tru Independence LLC purchased a new position in shares of Shopify during the fourth quarter valued at $33,959,000. Barrett Asset Management LLC purchased a new position in shares of Shopify during the first quarter valued at $34,000. Finally, Hudock Inc. grew its holdings in shares of Shopify by 142.9% during the first quarter. Hudock Inc. now owns 34 shares of the software maker’s stock valued at $37,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 58.99% of the company’s stock.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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