Shopify (NYSE:SHOP) Trading Up 0.2% – Should You Buy?

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s stock price traded up 0.2% on Tuesday . The stock traded as high as $111.00 and last traded at $109.45. 1,805,507 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 8,608,385 shares. The stock had previously closed at $109.28.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. UBS Group increased their target price on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. Citigroup raised their price objective on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, ATB Capital upped their target price on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

The company has a 50 day simple moving average of $110.19 and a 200-day simple moving average of $100.01. The stock has a market capitalization of $141.89 billion, a P/E ratio of 70.60, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Members Wealth LLC bought a new position in shares of Shopify in the fourth quarter worth $177,000. Lansforsakringar Fondforvaltning AB publ bought a new position in Shopify in the 4th quarter worth about $29,322,000. Centaurus Financial Inc. boosted its stake in Shopify by 15.4% in the 4th quarter. Centaurus Financial Inc. now owns 1,496 shares of the software maker’s stock worth $159,000 after purchasing an additional 200 shares during the period. Cim LLC purchased a new position in Shopify during the 4th quarter valued at about $1,313,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in shares of Shopify in the fourth quarter worth about $232,000. 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.