Shopify (NYSE:SHOP) Price Target Raised to $80.00 at Evercore ISI

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by Evercore ISI from $75.00 to $80.00 in a research note released on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the software maker’s stock.

SHOP has been the subject of a number of other research reports. Mizuho decreased their target price on shares of Shopify from $75.00 to $65.00 and set a neutral rating for the company in a research report on Thursday, May 9th. DA Davidson lowered their price objective on Shopify from $90.00 to $84.00 and set a buy rating for the company in a research report on Thursday, May 9th. Needham & Company LLC restated a hold rating on shares of Shopify in a research report on Thursday, May 9th. Robert W. Baird lowered their target price on Shopify from $87.00 to $77.00 and set an outperform rating for the company in a report on Thursday, May 9th. Finally, Truist Financial dropped their price target on Shopify from $65.00 to $55.00 and set a hold rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $77.24.

Shopify Price Performance

NYSE:SHOP traded up $0.76 during trading hours on Thursday, hitting $69.31. The company’s stock had a trading volume of 10,919,824 shares, compared to its average volume of 10,422,090. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57. The stock has a fifty day simple moving average of $63.23 and a 200-day simple moving average of $70.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. As a group, equities analysts anticipate that Shopify will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the fourth quarter worth $26,000. DSM Capital Partners LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in shares of Shopify during the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP grew its holdings in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after purchasing an additional 391 shares in the last quarter. Finally, Cultivar Capital Inc. bought a new position in shares of Shopify in the second quarter worth approximately $33,000. Institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

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.