Shopify (NYSE:SHOP) Downgraded to Neutral Rating by BNP Paribas Exane

BNP Paribas Exane downgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from an outperform rating to a neutral rating in a research note released on Monday, MarketBeat.com reports. They currently have $100.00 price target on the software maker’s stock.

Several other analysts have also recently commented on the company. Wells Fargo & Company boosted their price target on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. DA Davidson dropped their target price on shares of Shopify from $150.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 14th. Oppenheimer decreased their price target on shares of Shopify from $150.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. CIBC upped their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Barclays increased their price objective on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.00.

Shopify Stock Up 0.7 %

SHOP opened at $94.50 on Monday. The firm’s fifty day simple moving average is $93.73 and its two-hundred day simple moving average is $102.58. Shopify has a 52-week low of $48.56 and a 52-week high of $129.38. The company has a market cap of $122.36 billion, a price-to-earnings ratio of 60.97, a PEG ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, research analysts forecast that Shopify will post 1.12 EPS for the current year.

Institutional Trading of Shopify

A number of institutional investors have recently bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new position in shares of Shopify in the 1st quarter valued at about $49,000. Kirtland Hills Capital Management LLC boosted its holdings in Shopify by 73.6% in the first quarter. Kirtland Hills Capital Management LLC now owns 7,229 shares of the software maker’s stock valued at $690,000 after purchasing an additional 3,065 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Shopify in the first quarter valued at approximately $68,000. SLT Holdings LLC increased its stake in Shopify by 3.3% in the first quarter. SLT Holdings LLC now owns 5,550 shares of the software maker’s stock valued at $530,000 after purchasing an additional 175 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Shopify during the first quarter worth approximately $730,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.