Robert W. Baird Increases Shopify (NYSE:SHOP) Price Target to $87.00

Shopify (NYSE:SHOPFree Report) (TSE:SHOP) had its price target lifted by Robert W. Baird from $85.00 to $87.00 in a report released on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the software maker’s stock.

A number of other analysts also recently weighed in on the company. Wedbush reiterated a neutral rating and set a $68.00 price target on shares of Shopify in a report on Tuesday, February 13th. ATB Capital lifted their target price on Shopify from $105.00 to $110.00 and gave the stock a sector perform rating in a report on Wednesday, February 14th. CIBC increased their price target on Shopify from $82.00 to $100.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. DZ Bank reaffirmed a sell rating and set a $65.00 price objective on shares of Shopify in a research report on Tuesday, December 12th. Finally, Barclays dropped their target price on shares of Shopify from $70.00 to $68.00 and set an equal weight rating on the stock in a research report on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $77.38.

Read Our Latest Stock Analysis on Shopify

Shopify Stock Performance

Shares of SHOP stock opened at $75.65 on Wednesday. The stock has a market capitalization of $97.33 billion, a PE ratio of 840.65 and a beta of 2.22. The business’s 50 day simple moving average is $79.16 and its 200 day simple moving average is $70.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. Shopify has a one year low of $43.50 and a one year high of $91.57.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, research analysts forecast that Shopify will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Confluence Investment Management LLC bought a new stake in shares of Shopify in the 1st quarter worth approximately $699,000. HighPoint Advisor Group LLC purchased a new stake in shares of Shopify during the fourth quarter worth $1,351,000. Fairman Group LLC bought a new position in Shopify in the 4th quarter worth about $214,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Shopify by 118.9% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,382,000 shares of the software maker’s stock valued at $263,452,000 after buying an additional 1,837,000 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Shopify by 8.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 57,278 shares of the software maker’s stock valued at $4,462,000 after buying an additional 4,503 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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