Shopify’s (SHOP) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Shopify (NASDAQ:SHOP) (TSE:SHOP) in a research report sent to investors on Tuesday,RTT News reports. The firm currently has a $185.00 price target on the software maker’s stock, up from their previous price target of $160.00.

Several other research firms have also weighed in on SHOP. Needham & Company LLC initiated coverage on shares of Shopify in a report on Monday, July 14th. They set a “buy” rating and a $135.00 target price for the company. BMO Capital Markets increased their target price on Shopify from $120.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a report on Wednesday, October 8th. Evercore ISI increased their price objective on shares of Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Cantor Fitzgerald set a $156.00 target price on Shopify and gave the stock a “neutral” rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.89.

Shopify Trading Down 4.2%

SHOP opened at $156.05 on Tuesday. The firm has a market cap of $202.81 billion, a price-to-earnings ratio of 115.59, a PEG ratio of 6.81 and a beta of 2.73. Shopify has a 12 month low of $69.84 and a 12 month high of $182.19. The stock has a fifty day moving average price of $155.37 and a 200-day moving average price of $129.48.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly 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 return on equity of 11.72% and a net margin of 16.65%.The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Shopify will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Shopify

Several institutional investors have recently modified their holdings of SHOP. Balboa Wealth Partners acquired a new position in shares of Shopify during the third quarter worth $246,000. Naviter Wealth LLC acquired a new position in shares of Shopify during the 3rd quarter worth about $241,000. Metis Global Partners LLC increased its holdings in shares of Shopify by 1.1% in the 3rd quarter. Metis Global Partners LLC now owns 55,080 shares of the software maker’s stock valued at $8,183,000 after acquiring an additional 622 shares during the last quarter. Tacita Capital Inc raised its position in shares of Shopify by 6.8% during the 3rd quarter. Tacita Capital Inc now owns 4,621 shares of the software maker’s stock worth $687,000 after acquiring an additional 294 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Shopify by 9.4% during the third quarter. Assetmark Inc. now owns 200,168 shares of the software maker’s stock worth $29,747,000 after purchasing an additional 17,252 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.