Shopify (NASDAQ:SHOP) Coverage Initiated by Analysts at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of Shopify (NASDAQ:SHOP) (TSE:SHOP) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued a neutral rating on the software maker’s stock.

A number of other brokerages have also issued reports on SHOP. Morgan Stanley reiterated an “overweight” rating and issued a $192.00 price target (up previously from $165.00) on shares of Shopify in a report on Wednesday, November 5th. The Goldman Sachs Group upped their target price on Shopify from $120.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. TD Securities increased their price target on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. DA Davidson lifted their price objective on Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Zacks Research lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Twenty-two research analysts have rated the stock with a Buy rating and twenty-four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $163.89.

Shopify Trading Up 5.1%

Shares of SHOP opened at $155.31 on Monday. The firm has a fifty day moving average price of $156.80 and a 200-day moving average price of $134.63. The firm has a market capitalization of $202.19 billion, a P/E ratio of 115.04, a P/E/G ratio of 5.46 and a beta of 2.73. Shopify has a 12-month low of $69.84 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates 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. Analysts predict that Shopify will post 1.12 earnings per share for the current year.

Institutional Trading of Shopify

Several hedge funds and other institutional investors have recently made changes to their positions in SHOP. Brighton Jones LLC increased its position in Shopify by 2.8% during the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after buying an additional 584 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in Shopify by 172.0% in the first quarter. Pinnacle Associates Ltd. now owns 12,023 shares of the software maker’s stock worth $1,148,000 after acquiring an additional 7,602 shares in the last quarter. Assetmark Inc. grew its stake in shares of Shopify by 10.6% during the first quarter. Assetmark Inc. now owns 93,440 shares of the software maker’s stock worth $9,033,000 after acquiring an additional 8,930 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Shopify by 3.0% during the first quarter. Pacer Advisors Inc. now owns 10,872 shares of the software maker’s stock valued at $1,038,000 after acquiring an additional 312 shares in the last quarter. Finally, HB Wealth Management LLC raised its position in shares of Shopify by 27.5% in the 1st quarter. HB Wealth Management LLC now owns 15,076 shares of the software maker’s stock valued at $1,439,000 after purchasing an additional 3,249 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.