Shopify (NYSE:SHOP) Price Target Raised to $310.00
Shopify (NYSE:SHOP) (TSE:SHOP) had its price target upped by Barclays from $225.00 to $310.00 in a report published on Friday, The Fly reports. The firm currently has an equal weight rating on the software maker’s stock.
SHOP has been the subject of several other research reports. National Bank Financial upped their price target on Shopify from $270.00 to $350.00 and gave the stock an outperform rating in a research note on Thursday. KeyCorp started coverage on Shopify in a research note on Monday, April 29th. They set an overweight rating and a $250.00 price target for the company. Rosenblatt Securities reiterated a buy rating and set a $395.00 price target (up previously from $295.00) on shares of Shopify in a research note on Thursday. Roth Capital upped their price target on Shopify from $200.00 to $225.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Finally, Credit Suisse Group boosted their price objective on Shopify from $190.00 to $275.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Shopify currently has an average rating of Buy and an average target price of $283.63.
SHOP opened at $326.85 on Friday. The stock has a market cap of $36.44 billion, a PE ratio of -535.82 and a beta of 1.35. Shopify has a 52-week low of $117.64 and a 52-week high of $338.94. The company has a quick ratio of 12.57, a current ratio of 12.56 and a debt-to-equity ratio of 0.05.
Several hedge funds and other institutional investors have recently bought and sold shares of SHOP. Capital Financial Planning LLC acquired a new position in Shopify in the 4th quarter valued at approximately $26,000. Murphy Pohlad Asset Management LLC acquired a new position in Shopify in the 4th quarter valued at approximately $27,000. Valeo Financial Advisors LLC raised its holdings in Shopify by 328.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after acquiring an additional 105 shares in the last quarter. Tortoise Investment Management LLC acquired a new position in Shopify in the 1st quarter valued at approximately $29,000. Finally, Sound Income Strategies LLC raised its holdings in Shopify by 8,100.0% in the 1st quarter. Sound Income Strategies LLC now owns 164 shares of the software maker’s stock valued at $34,000 after acquiring an additional 162 shares in the last quarter. 66.47% of the stock is owned by institutional investors and hedge funds.
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.
See Also: Google Finance
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.