Shopify (NYSE:SHOP) Shares Gap Down – Time to Sell?

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $102.52, but opened at $99.15. Shopify shares last traded at $97.41, with a volume of 2,513,552 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SHOP shares. UBS Group raised their price target on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. ATB Capital boosted their price target on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. TD Securities increased their price objective on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Barclays boosted their target price on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Citigroup raised their price target on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Price Performance

The firm has a 50-day moving average of $110.21 and a 200 day moving average of $100.78. The company has a market capitalization of $124.96 billion, a PE ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Equities analysts expect that Shopify Inc. will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Shopify

A number of hedge funds have recently added to or reduced their stakes in the stock. Members Wealth LLC bought a new stake in shares of Shopify in the fourth quarter worth $177,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Shopify during the 4th quarter valued at about $29,322,000. Centaurus Financial Inc. increased its position in shares of Shopify by 15.4% during the 4th quarter. Centaurus Financial Inc. now owns 1,496 shares of the software maker’s stock valued at $159,000 after purchasing an additional 200 shares during the last quarter. Cim LLC bought a new position in shares of Shopify in the 4th quarter worth approximately $1,313,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in shares of Shopify in the fourth quarter worth approximately $232,000. 69.27% of the stock is currently owned by hedge funds and other 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.