Shopify (NYSE:SHOP) Given New $135.00 Price Target at The Goldman Sachs Group

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by The Goldman Sachs Group from $88.00 to $135.00 in a report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the software maker’s stock.

Several other equities analysts have also recently weighed in on the company. Benchmark restated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Piper Sandler boosted their target price on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company increased their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Loop Capital raised their price target on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. One research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Down 0.6 %

Shopify stock opened at $108.48 on Wednesday. Shopify has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The firm has a 50 day moving average price of $81.97 and a two-hundred day moving average price of $71.02. The firm has a market cap of $139.98 billion, a price-to-earnings ratio of 101.38, a PEG ratio of 3.71 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.60%. Equities analysts predict that Shopify will post 0.76 EPS for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently made changes to their positions in the company. Moser Wealth Advisors LLC lifted its holdings in Shopify by 1.4% in the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after purchasing an additional 129 shares during the period. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares in the last quarter. CVA Family Office LLC grew its position in shares of Shopify by 11.8% during the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC raised its position in shares of Shopify by 3.5% during the third quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after buying an additional 145 shares during the last quarter. 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.