JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Shopify (NASDAQ:SHOP) Stock

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $179.00 to $180.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.35% from the stock’s previous close.

SHOP has been the subject of a number of other reports. UBS Group reiterated a “neutral” rating and set a $165.00 target price (up from $145.00) on shares of Shopify in a report on Wednesday. Benchmark reiterated a “buy” rating on shares of Shopify in a report on Wednesday. Arete reissued a “neutral” rating on shares of Shopify in a research note on Wednesday, July 23rd. Loop Capital lowered Shopify from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Tuesday, July 22nd. Finally, DA Davidson lifted their price target on shares of Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.89.

Shopify Stock Performance

Shares of Shopify stock opened at $156.05 on Wednesday. Shopify has a 52-week low of $69.84 and a 52-week high of $182.19. The company’s 50 day moving average price is $155.37 and its 200-day moving average price is $129.48. The stock has a market capitalization of $202.81 billion, a price-to-earnings ratio of 115.59, a P/E/G ratio of 6.81 and a beta of 2.73.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of hedge funds have recently modified their holdings of SHOP. Sumitomo Mitsui Trust Group Inc. lifted its position in Shopify by 4.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock valued at $603,425,000 after purchasing an additional 218,829 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Shopify by 171.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock valued at $48,827,000 after acquiring an additional 267,271 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Shopify by 9.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock worth $46,185,000 after acquiring an additional 35,113 shares in the last quarter. ARK Investment Management LLC increased its stake in Shopify by 13.6% during the second quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock worth $582,461,000 after acquiring an additional 605,283 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Shopify by 32.6% during the second quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock valued at $1,570,000 after purchasing an additional 3,347 shares during the period. Institutional investors 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.