Shopify (NYSE:SHOP) Given New $126.00 Price Target at Robert W. Baird

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target raised by stock analysts at Robert W. Baird from $90.00 to $126.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target suggests a potential upside of 16.41% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wolfe Research started coverage on Shopify in a research note on Tuesday, July 16th. They set an “outperform” rating and a $80.00 target price on the stock. Wells Fargo & Company lifted their target price on Shopify from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Roth Mkm raised their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their target price on Shopify from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.11.

Shopify Trading Up 20.3 %

NYSE SHOP opened at $108.24 on Wednesday. Shopify has a 12 month low of $48.56 and a 12 month high of $114.51. The stock has a market cap of $139.67 billion, a P/E ratio of 110.45, a P/E/G ratio of 3.01 and a beta of 2.36. The stock’s fifty day moving average price is $79.47 and its 200-day moving average price is $70.18. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. As a group, equities analysts forecast that Shopify will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its stake in Shopify by 15.4% during the first quarter. Empowered Funds LLC now owns 12,708 shares of the software maker’s stock worth $981,000 after acquiring an additional 1,694 shares during the last quarter. Bleakley Financial Group LLC increased its stake in Shopify by 51.4% during the first quarter. Bleakley Financial Group LLC now owns 16,315 shares of the software maker’s stock worth $1,259,000 after acquiring an additional 5,537 shares during the last quarter. TBH Global Asset Management LLC increased its stake in Shopify by 43.0% during the first quarter. TBH Global Asset Management LLC now owns 5,649 shares of the software maker’s stock worth $436,000 after acquiring an additional 1,700 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in Shopify by 1.4% during the first quarter. Kingsview Wealth Management LLC now owns 26,369 shares of the software maker’s stock worth $2,035,000 after acquiring an additional 365 shares during the last quarter. Finally, Midwest Professional Planners LTD. increased its stake in Shopify by 31.7% during the first quarter. Midwest Professional Planners LTD. now owns 4,842 shares of the software maker’s stock worth $374,000 after acquiring an additional 1,166 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.