Shopify (NASDAQ:SHOP – Get Free Report) TSE: SHOP had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $155.00 to $185.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 26.02% from the stock’s previous close.
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SHOP has been the subject of a number of other reports. The Goldman Sachs Group increased their price objective on shares of Shopify from $170.00 to $194.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $175.00 target price on shares of Shopify in a research note on Wednesday. Stifel Nicolaus set a $150.00 price target on shares of Shopify and gave the company a “buy” rating in a report on Thursday, July 9th. Robert W. Baird set a $150.00 price target on shares of Shopify in a research note on Wednesday, May 6th. Finally, Rothschild & Co Redburn set a $130.00 price objective on shares of Shopify and gave the company a “neutral” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.72.
Read Our Latest Analysis on SHOP
Shopify Stock Up 1.8%
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SHOP stock traded up $2.56 during trading on Thursday, reaching $146.80. The company’s stock 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 1 year low of $94.00 and a 1 year high of $182.19. The company has a market capitalization of $190.50 billion, a P/E ratio of 145.35, a price-to-earnings-growth ratio of 2.66 and a beta of 2.58.
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