Shopify (NASDAQ:SHOP) Price Target Raised to $185.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price target upped by KeyCorp from $180.00 to $185.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the software maker’s stock.

SHOP has been the subject of a number of other reports. Truist Financial set a $180.00 target price on Shopify and gave the company a “buy” rating in a report on Wednesday, August 5th. RBC Dominion Securities set a $200.00 price target on shares of Shopify and gave the stock an “outperform” rating in a research note on Friday, October 23rd. Evercore reiterated an “outperform” rating and set a $175.00 price target (up from $135.00) on shares of Shopify in a research note on Wednesday, August 5th. Sanford C. Bernstein initiated coverage on shares of Shopify in a research report on Thursday, September 10th. They set an “outperform” rating and a $160.00 price target on the stock. Finally, BTIG Research started coverage on shares of Shopify in a research report on Friday, July 10th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $178.79.

Shopify Trading Up 7.3%

SHOP opened at $153.03 on Monday. Shopify has a 52 week low of $94.00 and a 52 week high of $180.88. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $152.75 and a 200-day simple moving average of $130.11. The firm has a market cap of $196.89 billion, a P/E ratio of 102.57, a P/E/G ratio of 2.94 and a beta of 2.65.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.16. The firm had revenue of $3.74 billion for the quarter. Shopify had a return on equity of 13.99% and a net margin of 15.01%. Shopify’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, equities analysts expect that Shopify will post 1.46 earnings per share for the current year.

Institutional Trading of Shopify

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Shopify by 8.5% in the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock valued at $998,137,000 after purchasing an additional 660,198 shares in the last quarter. Swiss National Bank raised its holdings in Shopify by 27.0% during the first quarter. Swiss National Bank now owns 4,115,300 shares of the software maker’s stock worth $487,580,000 after purchasing an additional 876,100 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Shopify by 4.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,678,602 shares of the software maker’s stock worth $436,356,000 after purchasing an additional 145,500 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Shopify by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 3,495,964 shares of the software maker’s stock worth $414,691,000 after purchasing an additional 159,873 shares in the last quarter. Finally, Amova Asset Management Americas Inc. lifted its position in shares of Shopify by 5.0% during the 1st quarter. Amova Asset Management Americas Inc. now owns 3,458,265 shares of the software maker’s stock worth $410,219,000 after buying an additional 165,080 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported Q3 revenue of $3.74 billion, up 31.6% year over year, and earnings per share of $0.49, above consensus. Free cash flow rose 61% to $816 million, while operating income increased 66%. Read More.
• Positive Sentiment: Analyst actions were broadly supportive: National Bank Financial raised its target to $185 and reaffirmed “outperform,” while RBC maintained “outperform” with a $200 target. UBS raised its target to $160 but kept a neutral rating. Read More. · Read More. · Read More.
• Positive Sentiment: ARK Invest reportedly bought $12.5 million of Shopify shares during the post-earnings weakness, providing a vote of confidence from a prominent growth investor. Read More.
• Neutral Sentiment: Shopify highlighted growing AI-driven shopping activity, expanding payments penetration and rising Shop Pay usage. These initiatives could support future growth, though their financial contribution remains to be proven. Read More.
• Negative Sentiment: The quarter fell short of expectations on gross merchandise volume (about $119.1 billion) and subscription revenue; some reports also cited a modest revenue miss. The shortfalls triggered the recent sell-off and keep expectations for holiday-quarter execution high. Read More.
• Negative Sentiment: Valuation remains a risk: Shopify trades at a rich earnings multiple, leaving the stock vulnerable if growth or margins disappoint. Cantor Fitzgerald cut its target to $150 and retained a neutral rating. Read More.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.