BMO Capital Markets Raises Shopify (NASDAQ:SHOP) Price Target to $190.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its target price lifted by equities research analysts at BMO Capital Markets from $180.00 to $190.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 21.76% from the stock’s previous close.

A number of other research analysts have also recently weighed in on SHOP. DA Davidson lifted their target price on shares of Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Evercore ISI raised their price target on Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Arete Research upgraded Shopify to a “hold” rating in a research report on Wednesday, July 23rd. KeyCorp increased their target price on Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Bank of America lifted their target price on Shopify from $110.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average price target of $163.89.

Shopify Stock Performance

NASDAQ:SHOP opened at $156.05 on Wednesday. Shopify has a 52-week low of $69.84 and a 52-week high of $182.19. The firm has a market capitalization of $202.81 billion, a PE ratio of 115.59, a P/E/G ratio of 6.81 and a beta of 2.73. The stock has a 50-day simple moving average of $155.37 and a two-hundred day simple moving average of $129.48.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Shopify has set its Q4 2025 guidance at EPS. Equities analysts forecast that Shopify will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

A number of institutional investors and hedge funds have recently made changes to their positions in SHOP. Family Legacy Financial Solutions LLC bought a new stake in Shopify during the 2nd quarter valued at about $25,000. Financial Gravity Companies Inc. bought a new position in Shopify in the 2nd quarter worth about $27,000. Rothschild Investment LLC increased its position in shares of Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new stake in shares of Shopify during the third quarter valued at approximately $27,000. Finally, Tradewinds Capital Management LLC raised its stake in shares of Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. 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.