Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) had its price objective raised by Robert W. Baird from $110.00 to $158.00 in a research report report published on Friday. The brokerage currently has an outperform rating on the software maker’s stock.
A number of other analysts have also recently commented on SHOP. BidaskClub raised shares of Shopify Inc (US) from a hold rating to a buy rating in a report on Wednesday, October 25th. Monness Crespi & Hardt raised shares of Shopify Inc (US) from a neutral rating to a buy rating and set a $125.00 target price for the company in a report on Friday, October 27th. Oppenheimer reaffirmed a hold rating on shares of Shopify Inc (US) in a report on Tuesday, October 31st. Piper Jaffray Companies upped their target price on shares of Shopify Inc (US) from $110.00 to $120.00 in a report on Tuesday, October 31st. Finally, Roth Capital upped their target price on shares of Shopify Inc (US) from $117.00 to $119.00 and gave the company a buy rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $119.54.
Shares of Shopify Inc (NYSE SHOP) opened at $137.53 on Friday. Shopify Inc has a twelve month low of $58.63 and a twelve month high of $140.75. The company has a market cap of $13,650.00 and a P/E ratio of -327.45. The company has a current ratio of 10.82, a quick ratio of 10.83 and a debt-to-equity ratio of 0.01.
A number of institutional investors and hedge funds have recently bought and sold shares of SHOP. Alliancebernstein L.P. purchased a new position in Shopify Inc (US) during the second quarter valued at $498,000. UBS Asset Management Americas Inc. purchased a new position in Shopify Inc (US) during the second quarter valued at $278,000. Vanguard Group Inc. grew its stake in Shopify Inc (US) by 290.2% during the second quarter. Vanguard Group Inc. now owns 141,134 shares of the software maker’s stock valued at $12,264,000 after acquiring an additional 104,961 shares in the last quarter. Ark Investment Management LLC purchased a new position in Shopify Inc (US) during the second quarter valued at $242,000. Finally, QS Investors LLC purchased a new position in Shopify Inc (US) during the second quarter valued at $217,000. 60.34% of the stock is owned by institutional investors.
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Shopify Inc (US) Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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