Fintel reports that on April 26, 2023, Piper Sandler reiterated coverage of Shopify Inc – (NYSE:SHOP) with a Neutral recommendation.
Analyst Price Forecast Suggests 8.85% Upside
As of April 24, 2023, the average one-year price target for Shopify Inc – is 50.46. The forecasts range from a low of 32.32 to a high of $85.50. The average price target represents an increase of 8.85% from its latest reported closing price of 46.36.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Shopify Inc – is 6,783MM, an increase of 21.13%. The projected annual non-GAAP EPS is 0.03.
What is the Fund Sentiment?
There are 1438 funds or institutions reporting positions in Shopify Inc -. This is an increase of 55 owner(s) or 3.98% in the last quarter. Average portfolio weight of all funds dedicated to SHOP is 0.62%, an increase of 44.67%. Total shares owned by institutions increased in the last three months by 3.88% to 933,584K shares. 
The put/call ratio of SHOP is 0.81, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 72,448K shares representing 5.11% ownership of the company. In it’s prior filing, the firm reported owning 64,511K shares, representing an increase of 10.96%. The firm increased its portfolio allocation in SHOP by 46.25% over the last quarter.
Capital Research Global Investors holds 62,619K shares representing 4.42% ownership of the company. In it’s prior filing, the firm reported owning 52,633K shares, representing an increase of 15.95%. The firm increased its portfolio allocation in SHOP by 41.01% over the last quarter.
AEPGX – EUROPACIFIC GROWTH FUND holds 44,470K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 39,450K shares, representing an increase of 11.29%. The firm increased its portfolio allocation in SHOP by 32.79% over the last quarter.
Capital World Investors holds 27,416K shares representing 1.93% ownership of the company. In it’s prior filing, the firm reported owning 21,780K shares, representing an increase of 20.56%. The firm increased its portfolio allocation in SHOP by 53.99% over the last quarter.
Sands Capital Management holds 24,803K shares representing 1.75% ownership of the company. In it’s prior filing, the firm reported owning 22,580K shares, representing an increase of 8.96%. The firm increased its portfolio allocation in SHOP by 42.47% over the last quarter.
Shopify Background Information
(This description is provided by the company.)
Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Headquartered in Ottawa, Canada, Shopify powers over one million businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, PepsiCo, Staples and many more.
See all Shopify Inc – regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
