Baltimore Washington Financial Advisors Inc. Increases Stake in Shopify Inc. $SHOP

Baltimore Washington Financial Advisors Inc. grew its holdings in Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 19.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,684 shares of the software maker’s stock after acquiring an additional 17,222 shares during the period. Baltimore Washington Financial Advisors Inc.’s holdings in Shopify were worth $11,960,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock worth $2,252,000 after purchasing an additional 584 shares during the period. Pacer Advisors Inc. increased its position in Shopify by 3.0% in the first quarter. Pacer Advisors Inc. now owns 10,872 shares of the software maker’s stock worth $1,038,000 after buying an additional 312 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Shopify by 27.5% in the first quarter. HB Wealth Management LLC now owns 15,076 shares of the software maker’s stock worth $1,439,000 after buying an additional 3,249 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Shopify during the 1st quarter valued at about $68,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Shopify during the 1st quarter valued at approximately $49,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOP has been the topic of a number of recent analyst reports. Mizuho raised their target price on shares of Shopify from $85.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. KeyCorp increased their price objective on shares of Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Royal Bank Of Canada lifted their target price on shares of Shopify from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. TD Cowen reaffirmed a “hold” rating and issued a $156.00 target price on shares of Shopify in a report on Friday, October 3rd. Finally, JMP Securities raised their price target on Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $165.69.

Shopify Stock Up 1.3%

Shares of SHOP stock opened at $159.34 on Thursday. The company’s fifty day simple moving average is $157.23 and its two-hundred day simple moving average is $135.26. Shopify Inc. has a 52 week low of $69.84 and a 52 week high of $182.19. The stock has a market cap of $207.44 billion, a P/E ratio of 118.03, a PEG ratio of 5.81 and a beta of 2.73.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued 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 firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. Shopify has set its Q4 2025 guidance at EPS. On average, analysts anticipate that Shopify Inc. will post 1.12 EPS for the current fiscal year.

About Shopify

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.