Shopify (NYSE:SHOP) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

SHOP has been the topic of a number of other reports. Roth Capital upped their price target on shares of Shopify from $85.00 to $89.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Morgan Stanley raised shares of Shopify from an equal weight rating to an overweight rating and upped their price target for the stock from $74.00 to $85.00 in a research note on Friday, April 19th. ATB Capital upped their price target on shares of Shopify from $105.00 to $110.00 and gave the stock a sector perform rating in a research note on Wednesday, February 14th. Wells Fargo & Company dropped their price target on shares of Shopify from $90.00 to $85.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. Finally, DA Davidson upped their price target on shares of Shopify from $86.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $78.30.

Shopify Price Performance

Shares of NYSE:SHOP opened at $72.27 on Wednesday. Shopify has a one year low of $45.50 and a one year high of $91.57. The stock has a fifty day moving average of $75.75 and a 200-day moving average of $72.39. The company has a market capitalization of $92.98 billion, a PE ratio of 803.09 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, equities analysts anticipate that Shopify will post 0.58 EPS for the current fiscal year.

Institutional Trading of Shopify

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Shopify during the 4th quarter valued at $1,049,089,000. Capital World Investors lifted its holdings in shares of Shopify by 28.7% during the 4th quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock valued at $3,071,197,000 after buying an additional 8,789,411 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Shopify by 78.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after buying an additional 2,113,773 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Shopify by 118.9% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,382,000 shares of the software maker’s stock valued at $263,452,000 after buying an additional 1,837,000 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in shares of Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after buying an additional 1,419,749 shares during the period. 69.27% of the stock is owned by institutional investors.

About Shopify

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.