Shopify Inc (US) (SHOP) Price Target Increased to $110.00 by Analysts at DA Davidson

Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by DA Davidson to $110.00 in a research note published on Thursday morning. They currently have a neutral rating on the software maker’s stock. DA Davidson also issued estimates for Shopify Inc (US)’s Q4 2018 earnings at $0.01 EPS and FY2022 earnings at ($1.18) EPS.

A number of other research analysts have also issued reports on the company. Piper Jaffray Companies boosted their price target on Shopify Inc (US) from $110.00 to $120.00 in a research report on Tuesday, October 31st. Monness Crespi & Hardt upgraded Shopify Inc (US) from a neutral rating to a buy rating and set a $125.00 price target for the company in a research report on Friday, October 27th. BidaskClub upgraded Shopify Inc (US) from a hold rating to a buy rating in a research report on Wednesday, October 25th. KeyCorp reiterated a buy rating and set a $116.00 price target on shares of Shopify Inc (US) in a research report on Wednesday, November 1st. Finally, Roth Capital boosted their price target on Shopify Inc (US) from $117.00 to $119.00 and gave the stock a buy rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $108.01.

Shopify Inc (NYSE:SHOP) traded down $2.07 during trading hours on Thursday, reaching $116.44. The company had a trading volume of 1,123,750 shares, compared to its average volume of 1,294,898. Shopify Inc has a twelve month low of $54.30 and a twelve month high of $131.16. The firm has a market cap of $11,760.00 and a price-to-earnings ratio of -237.63. The company has a quick ratio of 10.64, a current ratio of 10.64 and a debt-to-equity ratio of 0.02.

Several institutional investors have recently made changes to their positions in the company. Pinebridge Investments L.P. raised its position in shares of Shopify Inc (US) by 30.5% during the fourth quarter. Pinebridge Investments L.P. now owns 33,737 shares of the software maker’s stock worth $3,407,000 after purchasing an additional 7,883 shares during the period. Penserra Capital Management LLC raised its position in Shopify Inc (US) by 41.5% during the fourth quarter. Penserra Capital Management LLC now owns 23,072 shares of the software maker’s stock valued at $2,330,000 after buying an additional 6,764 shares during the period. EFG Asset Management Americas Corp. raised its position in Shopify Inc (US) by 62.0% during the fourth quarter. EFG Asset Management Americas Corp. now owns 4,958 shares of the software maker’s stock valued at $501,000 after buying an additional 1,898 shares during the period. Texas Yale Capital Corp. raised its position in Shopify Inc (US) by 28.5% during the fourth quarter. Texas Yale Capital Corp. now owns 11,561 shares of the software maker’s stock valued at $1,168,000 after buying an additional 2,561 shares during the period. Finally, Swiss National Bank raised its position in Shopify Inc (US) by 0.6% during the fourth quarter. Swiss National Bank now owns 313,200 shares of the software maker’s stock valued at $31,697,000 after buying an additional 1,900 shares during the period. 55.48% of the stock is currently owned by institutional investors.

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About Shopify Inc (US)

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

Analyst Recommendations for Shopify Inc (US) (NYSE:SHOP)

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