Shopify Inc. (NYSE:SHOP – Get Free Report) TSE: SHOP traded down 1.2% during trading on Monday . The stock traded as low as $56.91 and last traded at $56.97. 8,537,200 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 10,421,573 shares. The stock had previously closed at $57.64.
Analyst Upgrades and Downgrades
SHOP has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price target on Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Mizuho lowered their price target on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. StockNews.com raised shares of Shopify from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Scotiabank decreased their price objective on Shopify from $80.00 to $75.00 and set a “sector perform” rating for the company in a report on Thursday, May 9th. Finally, BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus target price of $77.06.
Shopify Trading Down 1.2 %
The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The business’s 50-day moving average is $70.27 and its 200 day moving average is $74.29. The firm has a market capitalization of $73.42 billion, a P/E ratio of -335.12, a price-to-earnings-growth ratio of 2.60 and a beta of 2.20.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Management Partners LLC grew its position in Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after buying an additional 126 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings 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 worth $27,000 after purchasing an additional 130 shares in the last quarter. Tradition Wealth Management LLC increased its position in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after purchasing an additional 140 shares during the period. Pachira Investments Inc. raised its stake in Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares in the last quarter. Finally, Baldwin Brothers LLC MA raised its stake in Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds 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.