Shopify (NYSE:SHOP) Downgraded by StockNews.com

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

SHOP has been the topic of several other research reports. UBS Group upped their target price on Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. National Bankshares upped their target price on Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Robert W. Baird upped their target price on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Loop Capital cut their target price on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday. Finally, DA Davidson upped their target price on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Hold” and a consensus price target of $78.00.

Shopify Trading Up 1.1 %

Shares of SHOP stock opened at $69.43 on Tuesday. The stock has a market cap of $89.33 billion, a price-to-earnings ratio of 771.53 and a beta of 2.22. The stock has a 50-day moving average of $77.14 and a 200-day moving average of $71.75. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, equities research analysts forecast that Shopify will post 0.58 earnings per share for the current year.

Institutional Trading of Shopify

Hedge funds have recently bought and sold shares of the business. Private Wealth Management Group LLC bought a new stake in shares of Shopify during the 4th quarter valued at $26,000. SJS Investment Consulting Inc. raised its stake in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the period. PCA Investment Advisory Services Inc. purchased a new position in Shopify during the second quarter worth about $27,000. DSM Capital Partners LLC purchased a new position in Shopify during the fourth quarter worth about $28,000. Finally, Jones Financial Companies Lllp purchased a new position in Shopify during the fourth quarter worth about $28,000. 69.27% of the stock is currently owned by institutional investors.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.