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

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

A number of other equities research analysts also recently issued reports on SHOP. National Bankshares boosted their price target on Shopify from $80.00 to $100.00 and gave the company an outperform rating in a research report on Friday, January 26th. Robert W. Baird boosted their price target on Shopify from $85.00 to $87.00 and gave the company an outperform rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group boosted their price target on Shopify from $67.00 to $75.00 and gave the company a neutral rating in a research report on Thursday, February 29th. Roth Capital boosted their price target on Shopify from $85.00 to $89.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Finally, ATB Capital boosted their price target on Shopify from $105.00 to $110.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has an average rating of Hold and an average target price of $78.00.

Shopify Stock Performance

Shopify stock opened at $69.51 on Tuesday. The firm has a market capitalization of $89.43 billion, a P/E ratio of 772.42 and a beta of 2.22. The stock has a fifty day moving average price of $76.77 and a 200 day moving average price of $71.73. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

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

Institutional Trading of Shopify

Several institutional investors and hedge funds have recently bought and sold shares of SHOP. Baillie Gifford & Co. raised its position in shares of Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares during the period. Vanguard Group Inc. raised its position in shares of Shopify by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock worth $3,284,910,000 after purchasing an additional 1,242,067 shares during the period. Capital World Investors raised its position in shares of Shopify by 28.7% during the 4th quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock worth $3,071,197,000 after purchasing an additional 8,789,411 shares during the period. Capital International Investors raised its position in shares of Shopify by 9.7% during the 4th quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock worth $1,235,534,000 after purchasing an additional 1,399,562 shares during the period. Finally, Norges Bank acquired a new stake in shares of Shopify during the 4th quarter worth approximately $1,049,089,000. 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.