Deutsche Bank Aktiengesellschaft Cuts Shopify (NYSE:SHOP) Price Target to $80.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective cut by equities researchers at Deutsche Bank Aktiengesellschaft from $95.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 28.00% from the company’s current price.

SHOP has been the subject of several other research reports. Wedbush reissued a “neutral” rating and issued a $68.00 target price on shares of Shopify in a research report on Tuesday, February 13th. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday. UBS Group lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Shopify presently has a consensus rating of “Hold” and an average price target of $77.89.

Shopify Trading Down 0.4 %

Shares of NYSE SHOP traded down $0.23 during mid-day trading on Thursday, hitting $62.50. The stock had a trading volume of 11,317,277 shares, compared to its average volume of 9,850,029. The business has a 50 day moving average price of $74.74 and a two-hundred day moving average price of $73.78. Shopify has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The firm has a market cap of $80.41 billion, a P/E ratio of 692.44 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, equities analysts anticipate that Shopify will post 0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SHOP. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the fourth quarter valued at $26,000. SJS Investment Consulting Inc. grew its holdings in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. DSM Capital Partners LLC bought a new stake in Shopify in the fourth quarter worth about $28,000. Jones Financial Companies Lllp purchased a new position in shares of Shopify during the fourth quarter valued at approximately $28,000. Finally, Your Advocates Ltd. LLP grew its stake in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

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.