Citigroup Lowers Shopify (NASDAQ:SHOP) Price Target to $150.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its target price cut by analysts at Citigroup from $156.00 to $150.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s price target would suggest a potential upside of 31.87% from the stock’s previous close.

A number of other equities research analysts have also commented on SHOP. Piper Sandler reiterated an “overweight” rating and set a $150.00 price target (down from $165.00) on shares of Shopify in a report on Tuesday, May 5th. Stifel Nicolaus set a $150.00 price target on shares of Shopify and gave the stock a “buy” rating in a report on Thursday, July 9th. Oppenheimer restated an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a research report on Wednesday, May 6th. Jefferies Financial Group raised shares of Shopify from a “hold” rating to a “buy” rating and upped their price objective for the company from $140.00 to $160.00 in a research note on Sunday, July 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $180.00 target price on shares of Shopify in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.69.

Shopify Price Performance

SHOP opened at $113.75 on Friday. The stock’s 50 day simple moving average is $114.39 and its 200 day simple moving average is $122.13. The firm has a market cap of $147.61 billion, a price-to-earnings ratio of 112.62, a PEG ratio of 2.45 and a beta of 2.58. Shopify has a 1 year low of $94.00 and a 1 year high of $182.19.

Institutional Trading of Shopify

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares in the last quarter. AQR Capital Management LLC raised its stake in Shopify by 107.3% in the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Shopify by 6.6% in the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after buying an additional 506 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in Shopify in the second quarter worth about $53,000. Finally, Main Street Financial Solutions LLC lifted its holdings in Shopify by 15.3% in the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after buying an additional 1,479 shares during the period. Institutional investors own 69.27% of the company’s stock.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Citigroup lowered its price target on Shopify to $150 from $156 but kept a Buy rating, implying meaningful upside from current levels. Benzinga
• Positive Sentiment: Several analyst-focused articles highlighted Shopify as a buy and pointed to roughly 28% upside based on consensus price targets, which can support sentiment around the stock. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Growth-oriented coverage continued to argue that Shopify’s strong fundamentals and growth profile could make it attractive for long-term investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Neutral Sentiment: Reports about Shopify merchants processing record GMV and the broader merchant ecosystem underscore platform momentum, but they were more of an industry/operating backdrop than a direct stock-moving announcement. DSCP Smart Fulfillment Addresses Critical Gap as Shopify Merchants Process Record $378 Billion in Annual Sales
• Negative Sentiment: Rothschild & Co Redburn cut Shopify to Hold, a downgrade that likely pressured the shares and signaled more caution on the stock’s near-term upside. Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.