Shopify (NASDAQ:SHOP) Given New $155.00 Price Target at National Bank Financial

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price target cut by equities research analysts at National Bank Financial from $200.00 to $155.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the software maker’s stock. National Bank Financial’s price target would suggest a potential upside of 44.27% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Oppenheimer reissued an “outperform” rating and set a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. BMO Capital Markets cut their price target on shares of Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Arete Research set a $175.00 price target on shares of Shopify in a report on Monday, February 2nd. Finally, Barclays set a $126.00 price target on shares of Shopify and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.17.

Shopify Stock Up 2.4%

SHOP stock traded up $2.54 during trading on Wednesday, hitting $107.44. 5,657,252 shares of the company’s stock traded hands, compared to its average volume of 11,371,935. The firm has a market capitalization of $139.42 billion, a P/E ratio of 106.38, a PEG ratio of 2.89 and a beta of 2.64. The business has a fifty day simple moving average of $115.47 and a two-hundred day simple moving average of $134.78. Shopify has a 1 year low of $94.00 and a 1 year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $998.78. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, equities research analysts predict that Shopify will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently made changes to their positions in SHOP. Kingdom Financial Group LLC. acquired a new stake in shares of Shopify during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify during the fourth quarter worth $27,000. Evolution Wealth Management Inc. lifted its stake in shares of Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock worth $27,000 after buying an additional 155 shares during the period. Graney & King LLC acquired a new stake in shares of Shopify during the first quarter worth $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Shopify during the fourth quarter worth $29,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.