Shopify (NYSE:SHOP – Get Free Report) TSE: SHOP was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
Several other equities analysts have also commented on the company. DA Davidson raised their price objective on Shopify from $75.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. Royal Bank of Canada raised their target price on shares of Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, December 6th. DZ Bank restated a “sell” rating and issued a $65.00 price target on shares of Shopify in a research note on Tuesday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Shopify in a research note on Monday, December 18th. Finally, Barclays increased their target price on Shopify from $53.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.96.
Shopify Trading Up 3.2 %
NYSE:SHOP traded up $2.49 during midday trading on Friday, reaching $80.01. 10,243,601 shares of the stock traded hands, compared to its average volume of 10,954,121. The stock has a market capitalization of $102.61 billion, a P/E ratio of -87.92 and a beta of 2.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 7.23 and a current ratio of 7.23. The company has a fifty day moving average of $74.69 and a 200 day moving average of $64.09. Shopify has a 12 month low of $38.14 and a 12 month high of $83.19.
Shopify (NYSE:SHOP – Get Free Report) TSE: SHOP last released its quarterly earnings data on Thursday, November 2nd. The software maker reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.11. Shopify had a negative return on equity of 0.30% and a negative net margin of 17.27%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. On average, research analysts predict that Shopify will post 0.21 EPS for the current year.
Institutional Investors Weigh In On Shopify
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kercheville Advisors LLC raised its stake in Shopify by 67.3% in the fourth quarter. Kercheville Advisors LLC now owns 21,385 shares of the software maker’s stock valued at $1,666,000 after buying an additional 8,600 shares during the last quarter. Mainsail Financial Group LLC purchased a new stake in Shopify during the 4th quarter worth approximately $255,000. Pinnacle Associates Ltd. acquired a new position in Shopify during the 4th quarter valued at approximately $274,000. Griffin Asset Management Inc. raised its holdings in shares of Shopify by 16.7% in the fourth quarter. Griffin Asset Management Inc. now owns 11,905 shares of the software maker’s stock worth $927,000 after buying an additional 1,700 shares during the last quarter. Finally, Zullo Investment Group Inc. lifted its stake in shares of Shopify by 1.9% during the fourth quarter. Zullo Investment Group Inc. now owns 10,765 shares of the software maker’s stock worth $839,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 60.28% 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, 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.