Shopify (NASDAQ:SHOP) Given a $155.00 Price Target by National Bank Financial Analysts

National Bank Financial set a $155.00 target price on Shopify (NASDAQ:SHOP) (TSE:SHOP) in a research note issued to investors on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the software maker’s stock.

SHOP has been the topic of a number of other research reports. Susquehanna began coverage on shares of Shopify in a research report on Friday, July 10th. They set a “neutral” rating on the stock. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Citizens Jmp cut their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $180.00 target price on shares of Shopify in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $157.58.

Shopify Stock Up 0.7%

Shares of SHOP stock opened at $124.48 on Monday. Shopify has a 12 month low of $94.00 and a 12 month high of $182.19. The firm has a market cap of $161.53 billion, a PE ratio of 123.25, a price-to-earnings-growth ratio of 2.68 and a beta of 2.58. The stock has a 50 day moving average of $112.90 and a 200-day moving average of $123.07.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently bought and sold shares of the business. Northside Capital Management LLC acquired a new position in shares of Shopify in the 2nd quarter valued at $781,000. Canvas Wealth Advisors LLC lifted its holdings in shares of Shopify by 1.1% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 8,356 shares of the software maker’s stock worth $954,000 after acquiring an additional 93 shares during the period. Fiduciary Financial Group LLC acquired a new stake in shares of Shopify during the 2nd quarter valued at about $200,000. Doliver Advisors LP boosted its position in shares of Shopify by 13.3% during the 2nd quarter. Doliver Advisors LP now owns 11,158 shares of the software maker’s stock valued at $1,274,000 after acquiring an additional 1,310 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Shopify by 387.2% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,347 shares of the software maker’s stock valued at $2,209,000 after acquiring an additional 15,376 shares during the period. Institutional investors own 69.27% of the company’s stock.

About Shopify

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.