Shopify (NASDAQ:SHOP) Given a $200.00 Price Target by Royal Bank Of Canada Analysts

Royal Bank Of Canada set a $200.00 price objective on Shopify (NASDAQ:SHOP) (TSE:SHOP) in a research report report published on Monday morning,BayStreet.CA reports. The firm currently has an outperform rating on the software maker’s stock.

Other equities analysts have also issued research reports about the company. Bank of America boosted their price objective on Shopify from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. DA Davidson lifted their price target on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Shopify in a research report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $180.00 price objective on shares of Shopify in a research report on Wednesday, November 5th. Finally, DZ Bank raised shares of Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Twenty-four analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $171.61.

Shopify Trading Down 1.1%

SHOP opened at $136.31 on Monday. Shopify has a twelve month low of $69.84 and a twelve month high of $182.19. The firm has a market capitalization of $177.45 billion, a PE ratio of 100.97, a PEG ratio of 4.08 and a beta of 2.83. The firm’s 50-day moving average price is $158.92 and its 200 day moving average price is $150.91.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 EPS 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 the consensus estimate of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. As a group, analysts predict that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Shopify during the 2nd quarter worth $1,794,952,000. Jennison Associates LLC raised its stake in Shopify by 64.3% in the third quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock valued at $2,812,211,000 after buying an additional 7,403,821 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Shopify by 5,193.6% during the 2nd quarter. Brown Advisory Inc. now owns 2,066,884 shares of the software maker’s stock worth $238,419,000 after buying an additional 2,027,839 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Shopify by 19.9% during the 2nd quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock worth $1,247,007,000 after buying an additional 1,781,530 shares during the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of Shopify by 246,359.0% during the 2nd quarter. Picton Mahoney Asset Management now owns 1,759,717 shares of the software maker’s stock worth $202,146,000 after acquiring an additional 1,759,003 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.