Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by KeyCorp from $1,125.00 to $1,150.00 in a research note published on Thursday morning, The Fly reports. They currently have an overweight rating on the software maker’s stock.
A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Shopify from $825.00 to $1,000.00 and gave the company an outperform rating in a report on Thursday, June 18th. Raymond James downgraded shares of Shopify from an outperform rating to a market perform rating in a report on Friday, April 17th. They noted that the move was a valuation call. Credit Suisse Group boosted their target price on shares of Shopify from $700.00 to $850.00 and gave the company a neutral rating in a report on Thursday, July 23rd. Jefferies Financial Group reiterated a hold rating and set a $725.00 price objective on shares of Shopify in a research note on Tuesday, July 28th. Finally, Wells Fargo & Co boosted their price objective on shares of Shopify from $700.00 to $1,000.00 and gave the stock a hold rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have given a buy rating to the stock. Shopify has a consensus rating of Hold and a consensus target price of $927.71.
NYSE:SHOP opened at $1,024.00 on Thursday. Shopify has a 1-year low of $282.08 and a 1-year high of $1,107.92. The firm has a 50 day simple moving average of $935.14 and a 200-day simple moving average of $641.42. The firm has a market cap of $120.08 billion, a PE ratio of 14,628.57 and a beta of 1.61.
A number of institutional investors and hedge funds have recently bought and sold shares of SHOP. New Capital Management LP raised its holdings in Shopify by 180.0% in the second quarter. New Capital Management LP now owns 28 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Lenox Wealth Advisors LLC raised its holdings in Shopify by 277.8% in the second quarter. Lenox Wealth Advisors LLC now owns 34 shares of the software maker’s stock valued at $32,000 after acquiring an additional 25 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in Shopify in the second quarter valued at $32,000. Squar Milner Financial Services LLC raised its holdings in Shopify by 102.5% in the first quarter. Squar Milner Financial Services LLC now owns 81 shares of the software maker’s stock valued at $33,000 after acquiring an additional 41 shares in the last quarter. Finally, Key Financial Inc acquired a new stake in Shopify in the first quarter valued at $34,000. 60.17% of the stock is currently owned by hedge funds and other institutional investors.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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