Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) had its target price increased by equities research analysts at National Bank Financial from $120.00 to $150.00 in a report released on Tuesday. The firm currently has an “outperform” rating on the software maker’s stock. National Bank Financial’s price objective would indicate a potential upside of 20.65% from the company’s current price.
Other analysts also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Shopify Inc (US) from $116.00 to $120.00 and gave the company an “equal weight” rating in a report on Tuesday. Barclays reiterated a “neutral” rating on shares of Shopify Inc (US) in a report on Sunday, November 5th. Oppenheimer reiterated a “hold” rating on shares of Shopify Inc (US) in a report on Tuesday, October 31st. BidaskClub downgraded shares of Shopify Inc (US) from a “buy” rating to a “hold” rating in a report on Friday, October 13th. Finally, KeyCorp reiterated a “buy” rating and issued a $116.00 price objective on shares of Shopify Inc (US) in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty have given a buy rating to the company. Shopify Inc (US) presently has a consensus rating of “Buy” and a consensus price target of $107.18.
Shopify Inc (NYSE:SHOP) traded down $2.97 on Tuesday, hitting $124.33. 1,382,585 shares of the company traded hands, compared to its average volume of 1,112,936. Shopify Inc has a 52-week low of $50.17 and a 52-week high of $130.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.64 and a current ratio of 10.64. The firm has a market cap of $12,420.00 and a P/E ratio of -253.73.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whale Rock Capital Management LLC increased its holdings in shares of Shopify Inc (US) by 37.7% during the 3rd quarter. Whale Rock Capital Management LLC now owns 1,323,557 shares of the software maker’s stock worth $154,181,000 after buying an additional 362,527 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Shopify Inc (US) during the 3rd quarter worth approximately $109,344,000. Zevenbergen Capital Investments LLC boosted its position in shares of Shopify Inc (US) by 5.7% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 885,840 shares of the software maker’s stock worth $103,192,000 after purchasing an additional 47,885 shares during the period. TD Asset Management Inc. boosted its position in shares of Shopify Inc (US) by 0.4% during the 3rd quarter. TD Asset Management Inc. now owns 609,824 shares of the software maker’s stock worth $70,762,000 after purchasing an additional 2,494 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Shopify Inc (US) by 2.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 477,948 shares of the software maker’s stock worth $55,650,000 after purchasing an additional 11,448 shares during the period. Institutional investors and hedge funds own 55.63% of the company’s stock.
About Shopify Inc (US)
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.
