Shopify (NASDAQ:SHOP) PT Set at $200.00 by Royal Bank Of Canada

Shopify (NASDAQ:SHOP) (TSE:SHOP) received a $200.00 target price from equities research analysts at Royal Bank Of Canada in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 19.21% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Raymond James Financial reissued a “market perform” rating on shares of Shopify in a research report on Monday, December 1st. TD Securities upgraded shares of Shopify to a “hold” rating in a research report on Thursday, December 4th. Stifel Nicolaus set a $175.00 target price on shares of Shopify in a report on Tuesday, November 4th. DA Davidson boosted their price target on Shopify from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Shopify from $179.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Twenty-three analysts have rated the stock with a Buy rating and twenty-three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $169.14.

Shopify Trading Down 0.4%

SHOP traded down $0.68 on Wednesday, hitting $167.77. The company had a trading volume of 2,254,302 shares, compared to its average volume of 4,899,595. The company’s fifty day moving average price is $160.56 and its 200 day moving average price is $147.00. Shopify has a 1 year low of $69.84 and a 1 year high of $182.19. The firm has a market cap of $218.41 billion, a P/E ratio of 124.27, a PEG ratio of 4.94 and a beta of 2.83.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. On average, analysts predict that Shopify will post 1.12 earnings per share for the current year.

Institutional Trading of Shopify

Institutional investors and hedge funds have recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC increased its stake in Shopify by 1.7% in the third quarter. Twin Peaks Wealth Advisors LLC now owns 3,448 shares of the software maker’s stock valued at $512,000 after acquiring an additional 59 shares during the period. Accurate Wealth Management LLC boosted its holdings in Shopify by 2.0% during the third quarter. Accurate Wealth Management LLC now owns 3,438 shares of the software maker’s stock valued at $526,000 after purchasing an additional 67 shares in the last quarter. Moloney Securities Asset Management LLC grew its stake in shares of Shopify by 1.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock valued at $587,000 after purchasing an additional 70 shares during the period. Rothschild Investment LLC boosted its stake in Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Shopify by 0.9% during the third quarter. Sivia Capital Partners LLC now owns 8,265 shares of the software maker’s stock valued at $1,228,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.