ATB Capital Boosts Shopify (NYSE:SHOP) Price Target to $170.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective raised by ATB Capital from $145.00 to $170.00 in a research note released on Wednesday morning,BayStreet.CA reports. ATB Capital currently has a sector perform rating on the software maker’s stock.

Other research analysts have also issued reports about the stock. Mizuho upped their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Barclays raised their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Robert W. Baird raised their target price on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Scotiabank upped 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $126.21.

Shopify Stock Performance

Shopify stock opened at $128.36 on Wednesday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market cap of $165.85 billion, a P/E ratio of 119.96, a P/E/G 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 $128.57. The firm has a 50-day moving average of $111.70 and a 200-day moving average of $92.27.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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%. Sell-side analysts expect that Shopify will post 0.91 EPS for the current year.

Institutional Trading of Shopify

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Shopify by 73.5% during the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after purchasing an additional 253 shares during the period. CWM LLC grew its position in Shopify by 14.9% during the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after buying an additional 1,832 shares during the period. Creative Planning increased its holdings in Shopify by 4.4% during the third quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after buying an additional 16,375 shares during the last quarter. NBC Securities Inc. raised its position in Shopify by 32.2% in the third quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after acquiring an additional 2,146 shares during the period. Finally, Prospect Financial Services LLC purchased a new position in shares of Shopify during the 3rd quarter worth $288,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

About Shopify

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.