Citizens Jmp Increases Shopify (NASDAQ:SHOP) Price Target to $185.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its target price upped by equities researchers at Citizens Jmp from $150.00 to $185.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the software maker’s stock. Citizens Jmp’s target price points to a potential upside of 28.26% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Shopify in a research note on Monday, July 20th. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Benchmark reissued a “buy” rating on shares of Shopify in a research note on Wednesday, July 29th. Canaccord Genuity Group set a $180.00 target price on Shopify in a report on Wednesday. Finally, BMO Capital Markets began coverage on Shopify in a research report on Friday, July 10th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.97.

Shopify Stock Performance

SHOP stock opened at $144.24 on Thursday. The firm has a market cap of $187.17 billion, a PE ratio of 142.81, a P/E/G ratio of 2.66 and a beta of 2.58. The firm’s fifty day moving average is $117.98 and its 200 day moving average is $119.65. Shopify has a one year low of $94.00 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The business had revenue of $3.58 billion during the quarter. During the same quarter last year, the company posted $0.69 EPS. The company’s revenue was up 33.7% on a year-over-year basis. Research analysts predict that Shopify will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Shopify by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after purchasing an additional 743,803 shares in the last quarter. Norges Bank acquired a new stake in shares of Shopify in the fourth quarter valued at $2,611,797,000. Invesco Ltd. raised its holdings in shares of Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after buying an additional 1,252,074 shares during the period. Geode Capital Management LLC raised its holdings in shares of Shopify by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock valued at $2,043,365,000 after buying an additional 737,892 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Shopify by 9.1% during the 4th quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock worth $1,627,352,000 after acquiring an additional 827,643 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported second-quarter revenue of $3.58 billion, up 33.7% year over year, while earnings of $0.42 per share exceeded the roughly $0.40 analyst consensus. Revenue, gross profit, GMV, and free cash flow all grew by more than 30%, with free-cash-flow margin reaching 18%. Shopify Delivers Big: 30%+ Growth Across GMV, Revenue, Gross Profit and Free Cash Flow
• Positive Sentiment: Third-quarter revenue guidance of $3.7 billion to $3.8 billion, implying low-30% growth, was above the approximately $3.6 billion consensus estimate. The outlook signals that recent momentum may continue despite concerns about AI competition and margin pressure.
• Positive Sentiment: Shopify said AI-referred traffic and orders from platforms such as ChatGPT and Gemini tripled year over year. Management characterized AI companies as partners that are directing shoppers and merchants to Shopify rather than replacing the platform. Shopify executive discusses AI and entrepreneurship
• Positive Sentiment: Analysts raised their forecasts following the results. Goldman Sachs lifted its price target from $170 to $194 and maintained a “buy” rating, suggesting further upside from the referenced $144.24 price. Shopify analysts increase forecasts following Q2 earnings
• Neutral Sentiment: Cantor Fitzgerald raised its target from $127 to $145 but kept a “neutral” rating, indicating that much of the improved outlook may already be reflected in the stock.
• Negative Sentiment: At approximately 143 times earnings, Shopify remains richly valued, leaving the stock vulnerable if growth slows, AI investments weigh on margins, or expectations rise faster than results.

About Shopify

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.