Shopify (NASDAQ:SHOP) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Shopify (NASDAQ:SHOP) (TSE:SHOP) in a research report released on Tuesday morning,RTT News reports. Wedbush currently has a $185.00 target price on the software maker’s stock, up from their previous target price of $160.00.

Several other equities research analysts have also recently issued reports on the stock. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 6th. CIBC boosted their price target on shares of Shopify from $145.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. ATB Capital cut shares of Shopify to a “sector perform” rating in a research report on Thursday, August 7th. Benchmark restated a “buy” rating and issued a $140.00 price target (up previously from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Finally, TD Securities boosted their price target on shares of Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

Shopify Price Performance

Shopify stock opened at $160.94 on Tuesday. The stock has a market cap of $209.17 billion, a P/E ratio of 89.91, a PEG ratio of 8.10 and a beta of 2.73. Shopify has a 1 year low of $69.84 and a 1 year high of $182.19. The firm’s 50 day moving average price is $154.62 and its 200-day moving average price is $129.05.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 23.42% and a return on equity of 12.30%. Shopify has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Shopify will post 1.12 EPS for the current year.

Institutional Trading of Shopify

A number of large investors have recently made changes to their positions in SHOP. Brighton Jones LLC boosted its stake in shares of Shopify by 2.8% during the fourth 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 during the period. GAMMA Investing LLC boosted its stake in shares of Shopify by 80.0% during the first quarter. GAMMA Investing LLC now owns 963 shares of the software maker’s stock valued at $92,000 after purchasing an additional 428 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Shopify by 517.6% during the first quarter. Principal Financial Group Inc. now owns 243,316 shares of the software maker’s stock valued at $23,218,000 after purchasing an additional 203,916 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Shopify by 15.8% during the first quarter. Concurrent Investment Advisors LLC now owns 13,804 shares of the software maker’s stock valued at $1,318,000 after purchasing an additional 1,879 shares during the period. Finally, Capital Advisors Inc. OK boosted its stake in shares of Shopify by 2.8% during the first quarter. Capital Advisors Inc. OK now owns 9,184 shares of the software maker’s stock valued at $877,000 after purchasing an additional 251 shares during the period. 69.27% of the stock is owned by hedge funds and other 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.