Shopify (NASDAQ:SHOP) Receives Outperform Rating from Wedbush

Shopify (NASDAQ:SHOP) (TSE:SHOP)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report issued on Tuesday,RTT News reports. They presently have a $185.00 price target on the software maker’s stock, up from their prior price target of $160.00. Wedbush’s target price indicates a potential upside of 14.95% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. DA Davidson lifted their price target on Shopify from $125.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $175.00 target price on Shopify in a research note on Tuesday. Cantor Fitzgerald set a $156.00 target price on Shopify and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Finally, UBS Group boosted their target price on Shopify from $110.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.38.

Shopify Price Performance

Shopify stock traded down $12.00 during trading hours on Tuesday, reaching $160.94. The company had a trading volume of 15,009,352 shares, compared to its average volume of 8,454,013. The company has a 50-day moving average price of $154.62 and a 200 day moving average price of $129.05. The firm has a market cap of $209.17 billion, a price-to-earnings ratio of 89.91, a P/E/G ratio of 8.10 and a beta of 2.73. Shopify has a 12-month low of $69.84 and a 12-month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 12.30% and a net margin of 23.42%. Shopify has set its Q4 2025 guidance at EPS. As a group, research analysts expect that Shopify will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new stake in Shopify in the second quarter worth $25,000. Financial Gravity Companies Inc. purchased a new stake in Shopify in the second quarter worth $27,000. Rothschild Investment LLC grew its stake in Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC purchased a new stake in Shopify in the third quarter worth $27,000. Finally, Tradewinds Capital Management LLC grew its stake in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.