Shopify (NYSE:SHOP) Price Target Raised to $150.00 at Deutsche Bank Aktiengesellschaft

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by stock analysts at Deutsche Bank Aktiengesellschaft from $125.00 to $150.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the software maker’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 22.70% from the company’s previous close.

Other equities research analysts have also issued reports about the company. DA Davidson increased their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Scotiabank increased their price target on Shopify from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays raised their target price on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Price Performance

SHOP stock traded down $1.34 during midday trading on Wednesday, reaching $122.25. The company had a trading volume of 8,897,011 shares, compared to its average volume of 7,737,990. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The company has a market capitalization of $157.96 billion, a price-to-earnings ratio of 114.25, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. Shopify has a 1-year low of $48.56 and a 1-year high of $125.95. The stock has a 50 day moving average price of $111.29 and a 200-day moving average price of $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities research analysts expect that Shopify will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

Large investors have recently made changes to their positions in the stock. Jennison Associates LLC purchased a new position in shares of Shopify in the 4th quarter valued at about $132,323,000. Swiss National Bank increased its holdings in Shopify by 0.9% during the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC increased its holdings in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after acquiring an additional 77,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares in 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.