Research analysts at Rosenblatt Securities initiated coverage on shares of Shopify (NASDAQ:SHOP – Get Free Report) TSE: SHOP in a report released on Thursday. The brokerage set a “buy” rating and a $175.00 price target on the software maker’s stock. Rosenblatt Securities’ target price suggests a potential upside of 19.39% from the company’s current price.
- Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
A number of other brokerages have also commented on SHOP. BTIG Research started coverage on Shopify in a research report on Friday, July 10th. They issued a “buy” rating for the company. Weiss Ratings upgraded shares of Shopify from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. Citizens Jmp boosted their price objective on Shopify from $150.00 to $185.00 and gave the stock a “market outperform” rating in a report on Thursday, August 6th. Truist Financial set a $180.00 price target on Shopify and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Citigroup restated an “outperform” rating on shares of Shopify in a report on Thursday, August 6th. Thirty-six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $170.84.
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Shopify Stock Performance
- This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason
SHOP stock opened at $146.58 on Thursday. The firm has a market cap of $188.60 billion, a PE ratio of 99.04, a price-to-earnings-growth ratio of 2.99 and a beta of 2.58. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $125.22 and a 200-day moving average price of $120.25. Shopify has a 1-year low of $94.00 and a 1-year high of $182.19.
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