Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Wells Fargo & Co from $400.00 to $600.00 in a report released on Thursday, The Fly reports. Wells Fargo & Co currently has an overweight rating on the software maker’s stock.
Other equities research analysts also recently issued research reports about the company. Mizuho initiated coverage on Shopify in a research report on Thursday, January 9th. They set a neutral rating and a $410.00 price objective on the stock. Pi Financial raised Shopify from a neutral rating to a buy rating in a research report on Wednesday. KeyCorp raised their price objective on Shopify from $485.00 to $575.00 and gave the company an overweight rating in a research report on Thursday. CIBC reaffirmed a hold rating and set a $525.00 price objective on shares of Shopify in a research report on Wednesday, January 22nd. Finally, Roth Capital raised their price objective on Shopify from $330.00 to $390.00 and gave the company a neutral rating in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $460.46.
SHOP stock traded down $1.75 during trading on Thursday, reaching $531.22. 2,206,751 shares of the company traded hands, compared to its average volume of 2,173,423. Shopify has a 12 month low of $173.71 and a 12 month high of $593.89. The business has a 50 day simple moving average of $449.15 and a 200 day simple moving average of $368.66. The company has a market capitalization of $56.71 billion, a price-to-earnings ratio of -470.11 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.21 and a current ratio of 11.21.
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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