Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) was downgraded by equities research analysts at DZ Bank from a “hold” rating to a “sell” rating in a research note issued on Thursday, MarketBeat Ratings reports.
Several other brokerages also recently commented on SHOP. Oppenheimer boosted their target price on Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Loop Capital increased their target price on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Piper Sandler upped their price target on shares of Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research note on Tuesday, September 17th. Finally, Mizuho raised their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.
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Shopify Stock Down 0.6 %
Institutional Investors Weigh In On Shopify
Hedge funds have recently made changes to their positions in the stock. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new position in Shopify in the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the second quarter valued at $33,000. Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter worth $33,000. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.
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.
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