StockNews.com Lowers Shopify (NYSE:SHOP) to Sell

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

A number of other brokerages also recently commented on SHOP. Royal Bank of Canada restated an outperform rating and issued a $100.00 target price on shares of Shopify in a research note on Wednesday, February 14th. Barclays dropped 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. Wedbush reiterated a neutral rating and issued a $68.00 target price on shares of Shopify in a research note on Tuesday, February 13th. UBS Group increased their price target on shares of Shopify from $75.00 to $80.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird lifted their price objective on shares of Shopify from $85.00 to $87.00 and gave the company an outperform rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $78.30.

Shopify Stock Performance

SHOP stock opened at $69.70 on Tuesday. The firm has a 50 day simple moving average of $76.35 and a 200 day simple moving average of $71.84. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The stock has a market cap of $89.67 billion, a P/E ratio of 774.53 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

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

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently made changes to their positions in the company. Private Wealth Management Group LLC acquired a new stake in Shopify during the 4th quarter valued at $26,000. SJS Investment Consulting Inc. raised its holdings in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new stake in Shopify during the 2nd quarter worth about $27,000. DSM Capital Partners LLC acquired a new stake in Shopify in the 4th quarter valued at about $28,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Shopify during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Company Profile

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.