Atb Cap Markets Downgrades Shopify (NYSE:SHOP) to Hold

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by equities researchers at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

SHOP has been the subject of a number of other reports. Truist Financial increased their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday. Loop Capital increased their price objective on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JMP Securities increased their price objective on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a report on Wednesday. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price objective on shares of Shopify in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.95.

Shopify Stock Up 5.7 %

Shares of NYSE:SHOP opened at $115.13 on Tuesday. The company has a fifty day moving average of $79.47 and a 200-day moving average of $70.18. The company has a market capitalization of $148.56 billion, a PE ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify has a 52-week low of $48.56 and a 52-week high of $115.62.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.94%. On average, equities analysts predict that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several large investors have recently modified their holdings of the stock. Baillie Gifford & Co. increased its stake in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the last quarter. Capital World Investors increased its stake in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares during the last quarter. FMR LLC increased its stake in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.