Shopify (NYSE:SHOP) Price Target Raised to $127.00 at Roth Capital

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Roth Capital from $119.00 to $127.00 in a report published on Tuesday, November 21st. Roth Capital currently has a buy rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the company. Vetr raised Shopify from a buy rating to a strong-buy rating and set a $102.78 price objective on the stock in a research note on Monday, July 24th. BidaskClub lowered Shopify from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Shopify from a hold rating to a buy rating and set a $101.00 price target on the stock in a research note on Friday, July 28th. Piper Jaffray Companies reissued an overweight rating and set a $110.00 target price (up previously from $85.00) on shares of Shopify in a research note on Tuesday, August 1st. Finally, Oppenheimer reissued a hold rating on shares of Shopify in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Shopify has an average rating of Buy and a consensus target price of $102.56.

Shares of Shopify (NYSE:SHOP) traded up $4.02 during mid-day trading on Tuesday, reaching $99.79. The company had a trading volume of 1,599,104 shares, compared to its average volume of 2,097,823. Shopify has a 52 week low of $39.85 and a 52 week high of $123.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.64 and a quick ratio of 10.64.

Large investors have recently made changes to their positions in the company. Seven Bridges Advisors LLC purchased a new stake in shares of Shopify in the second quarter valued at $120,000. Advisory Services Network LLC boosted its holdings in Shopify by 26.6% in the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after acquiring an additional 298 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Shopify in the second quarter valued at $135,000. Sterling Investment Advisors Ltd. boosted its holdings in Shopify by 100.0% in the second quarter. Sterling Investment Advisors Ltd. now owns 2,000 shares of the software maker’s stock valued at $174,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new position in Shopify in the third quarter valued at $233,000. 55.34% of the stock is owned by institutional investors and hedge funds.

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About Shopify

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.

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