Shopify (NYSE:SHOP) Given a $300.00 Price Target at Jefferies Financial Group
Jefferies Financial Group set a $300.00 price target on Shopify (NYSE:SHOP) (TSE:SHOP) in a research report released on Tuesday, TipRanks reports. The brokerage currently has a hold rating on the software maker’s stock.
A number of other brokerages also recently issued reports on SHOP. CSFB raised their price objective on Shopify from $275.00 to $370.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Mackie upped their target price on Shopify from $280.00 to $360.00 and gave the company a buy rating in a report on Monday, July 15th. Credit Suisse Group reissued a buy rating and set a $370.00 target price on shares of Shopify in a research report on Wednesday. Wedbush lowered shares of Shopify from an outperform rating to a neutral rating and raised their price target for the stock from $270.00 to $305.00 in a report on Tuesday, June 25th. They noted that the move was a valuation call. Finally, William Blair restated a hold rating on shares of Shopify in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Shopify presently has a consensus rating of Hold and a consensus target price of $335.88.
NYSE SHOP traded up $10.27 on Tuesday, reaching $347.51. The company had a trading volume of 3,196,958 shares, compared to its average volume of 1,792,052. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of -569.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.44 and a quick ratio of 11.44. Shopify has a fifty-two week low of $117.64 and a fifty-two week high of $409.61. The business has a 50 day moving average of $361.45 and a two-hundred day moving average of $281.04.
Hedge funds have recently made changes to their positions in the company. Thoroughbred Financial Services LLC lifted its position in shares of Shopify by 29,316.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,533,766 shares of the software maker’s stock valued at $153,377,000 after acquiring an additional 1,528,552 shares during the period. CIBC World Markets Inc. boosted its stake in Shopify by 378.5% during the first quarter. CIBC World Markets Inc. now owns 865,184 shares of the software maker’s stock worth $178,764,000 after acquiring an additional 684,365 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Shopify by 8.4% in the second quarter. Baillie Gifford & Co. now owns 6,418,913 shares of the software maker’s stock worth $1,926,637,000 after purchasing an additional 498,874 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Shopify by 76.2% in the first quarter. The Manufacturers Life Insurance Company now owns 507,158 shares of the software maker’s stock worth $104,789,000 after purchasing an additional 219,284 shares during the period. Finally, Bessemer Group Inc. increased its stake in Shopify by 2,201.6% in the second quarter. Bessemer Group Inc. now owns 221,412 shares of the software maker’s stock valued at $66,457,000 after purchasing an additional 211,792 shares in the last quarter. 59.63% of the stock is owned by institutional investors.
Shopify Company Profile
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.
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