Shopify (NASDAQ:SHOP – Get Free Report) TSE: SHOP has been given a $165.00 target price by analysts at BMO Capital Markets in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the software maker’s stock. BMO Capital Markets’ target price would indicate a potential upside of 12.40% from the company’s current price.
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Several other brokerages have also issued reports on SHOP. Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of Shopify in a research report on Wednesday, May 6th. Susquehanna started coverage on Shopify in a research note on Friday, July 10th. They issued a “neutral” rating on the stock. Citigroup reiterated an “outperform” rating on shares of Shopify in a report on Thursday. Jefferies Financial Group reissued a “buy” rating and set a $175.00 price objective on shares of Shopify in a research report on Wednesday. Finally, Morgan Stanley downgraded shares of Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.72.
Read Our Latest Stock Report on Shopify
Shopify Trading Up 1.8%
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NASDAQ SHOP traded up $2.56 during trading on Thursday, hitting $146.80. The company had a trading volume of 10,717,904 shares, compared to its average volume of 10,830,533. The company’s fifty day moving average is $117.98 and its 200-day moving average is $119.65. Shopify has a one year low of $94.00 and a one year high of $182.19. The company has a market cap of $190.50 billion, a price-to-earnings ratio of 145.35, a price-to-earnings-growth ratio of 2.66 and a beta of 2.58.
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