DA Davidson Increases Shopify (NASDAQ:SHOP) Price Target to $195.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective raised by investment analysts at DA Davidson from $185.00 to $195.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. DA Davidson’s target price points to a potential upside of 20.66% from the stock’s current price.

SHOP has been the subject of a number of other reports. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 6th. Loop Capital cut Shopify from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Tuesday, July 22nd. UBS Group boosted their price objective on Shopify from $110.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Arete Research upgraded shares of Shopify to a “hold” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $162.24.

Shopify Trading Up 0.4%

Shares of SHOP stock traded up $0.67 during trading hours on Wednesday, hitting $161.61. 1,156,371 shares of the company were exchanged, compared to its average volume of 9,662,938. Shopify has a 52 week low of $69.84 and a 52 week high of $182.19. The business has a 50 day moving average of $154.62 and a two-hundred day moving average of $129.05. The company has a market capitalization of $210.04 billion, a PE ratio of 90.28, a PEG ratio of 8.10 and a beta of 2.73.

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 analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 23.42% and a return on equity of 12.30%. Shopify has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Shopify will post 1.12 EPS for the current year.

Hedge Funds Weigh In On Shopify

Several institutional investors have recently made changes to their positions in the stock. Family Legacy Financial Solutions LLC acquired a new stake in shares of Shopify in the 2nd quarter worth about $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Shopify in the 2nd quarter worth about $27,000. Rothschild Investment LLC raised its holdings in shares of Shopify by 47.5% in the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Heartwood Wealth Advisors LLC acquired a new stake in shares of Shopify in the 3rd quarter worth about $27,000. Finally, Tradewinds Capital Management LLC raised its holdings in shares of Shopify by 71.4% in the 2nd quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

About Shopify

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.