Shopify (NYSE:SHOP) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a hold rating to a sell rating in a research report report published on Tuesday.

Several other research analysts also recently issued reports on SHOP. Barclays reduced their price objective on Shopify from $70.00 to $68.00 and set an equal weight rating on the stock in a report on Wednesday, February 14th. UBS Group upped their price objective on Shopify from $75.00 to $80.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Wedbush reaffirmed a neutral rating and set a $68.00 price objective on shares of Shopify in a report on Tuesday, February 13th. Piper Sandler reaffirmed an underweight rating and set a $63.00 price objective on shares of Shopify in a report on Thursday, April 11th. Finally, Roth Capital upped their target price on shares of Shopify from $85.00 to $89.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has an average rating of Hold and an average target price of $78.00.

Shopify Stock Up 0.1 %

Shares of SHOP opened at $69.51 on Tuesday. The stock has a market cap of $89.43 billion, a price-to-earnings ratio of 772.42 and a beta of 2.22. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a 50-day moving average price of $76.77 and a two-hundred day moving average price of $71.73.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. Equities analysts predict that Shopify will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

A number of large investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC boosted its stake in shares of Shopify by 6.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 6,195 shares of the software maker’s stock worth $478,000 after buying an additional 382 shares during the last quarter. CAP Partners LLC lifted its stake in Shopify by 4.0% in the 1st quarter. CAP Partners LLC now owns 16,538 shares of the software maker’s stock valued at $1,276,000 after purchasing an additional 636 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Shopify by 10.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,444 shares of the software maker’s stock valued at $266,000 after purchasing an additional 316 shares during the last quarter. SteelPeak Wealth LLC lifted its stake in Shopify by 28.4% in the 1st quarter. SteelPeak Wealth LLC now owns 53,491 shares of the software maker’s stock valued at $4,128,000 after purchasing an additional 11,824 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its stake in Shopify by 128.7% in the 1st quarter. Fiduciary Alliance LLC now owns 6,557 shares of the software maker’s stock valued at $513,000 after purchasing an additional 3,690 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.