Shopify Inc. (NYSE:SHOP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have been assigned a consensus rating of “Moderate Buy” from the forty-three analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, twenty-six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $115.11.

Several analysts recently commented on SHOP shares. Robert W. Baird raised their target price on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Barclays lowered their target price on Shopify from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Atb Cap Markets raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, BNP Paribas Exane lowered Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price target for the company. in a research note on Monday, May 5th.

Shopify Trading Up 6.1%

Shares of Shopify stock opened at $111.41 on Friday. Shopify has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a market capitalization of $144.26 billion, a price-to-earnings ratio of 71.88, a PEG ratio of 4.82 and a beta of 2.66. The business’s 50 day simple moving average is $96.02 and its 200-day simple moving average is $105.05.

Hedge Funds Weigh In On Shopify

Several institutional investors have recently bought and sold shares of the stock. Allianz SE bought a new position in shares of Shopify in the fourth quarter worth about $27,000. PFG Private Wealth Management LLC grew its position in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Shopify during the fourth quarter worth about $30,000. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Finally, Smithfield Trust Co boosted its holdings in Shopify by 149.2% during the first quarter. Smithfield Trust Co now owns 314 shares of the software maker’s stock valued at $30,000 after purchasing an additional 188 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Company Profile

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.