Shopify (NYSE:SHOP) Stock Price Expected to Rise, Mizuho Analyst Says

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target upped by Mizuho from $68.00 to $105.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Several other research analysts have also commented on SHOP. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Loop Capital lifted their price objective on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group increased their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and lifted their price target for the company from $78.00 to $82.00 in a report on Tuesday, July 16th. Finally, Argus upgraded shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Down 0.6 %

Shares of NYSE:SHOP opened at $108.48 on Wednesday. Shopify has a 12-month low of $48.56 and a 12-month high of $115.62. The company has a current ratio of 7.10, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market cap of $139.98 billion, a PE ratio of 101.38, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36. The company has a fifty day simple moving average of $81.97 and a 200 day simple moving average of $71.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.60%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. On average, equities research analysts anticipate that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several large investors have recently modified their holdings of the stock. Moser Wealth Advisors LLC lifted its holdings in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after purchasing an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after buying an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. CVA Family Office LLC boosted its holdings in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC increased its position in shares of Shopify by 3.5% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock worth $343,000 after acquiring an additional 145 shares in the last quarter. 69.27% of the stock is owned by institutional investors.

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.