Shopify (NYSE:SHOP) Lowered to “Hold” Rating by Phillip Securities

Phillip Securities downgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a moderate buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on SHOP. Citigroup upped their price objective on shares of Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 8th. ATB Capital downgraded shares of Shopify to a “sector perform” rating in a report on Thursday, August 7th. Barclays upped their price objective on shares of Shopify from $94.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 6th. Finally, Scotiabank restated a “sector perform” rating and set a $150.00 price objective (up previously from $115.00) on shares of Shopify in a report on Thursday, August 7th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $148.51.

Shopify Stock Up 0.5%

SHOP stock opened at $150.09 on Tuesday. The stock has a market capitalization of $194.72 billion, a price-to-earnings ratio of 96.83, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. Shopify has a twelve month low of $65.86 and a twelve month high of $156.85. The firm’s fifty day simple moving average is $120.13 and its two-hundred day simple moving average is $108.72.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities research analysts expect that Shopify will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gerber Kawasaki Wealth & Investment Management grew its holdings in Shopify by 195.4% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 42,084 shares of the software maker’s stock worth $4,854,000 after acquiring an additional 27,836 shares during the period. Vega Investment Solutions grew its holdings in Shopify by 20.9% during the second quarter. Vega Investment Solutions now owns 27,839 shares of the software maker’s stock worth $3,211,000 after acquiring an additional 4,811 shares during the period. Natixis grew its holdings in Shopify by 236.6% during the second quarter. Natixis now owns 26,572 shares of the software maker’s stock worth $3,065,000 after acquiring an additional 18,677 shares during the period. Cary Street Partners Financial LLC grew its holdings in Shopify by 2.6% in the second quarter. Cary Street Partners Financial LLC now owns 44,445 shares of the software maker’s stock valued at $5,127,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Shopify by 12.8% in the second quarter. Cerity Partners LLC now owns 110,455 shares of the software maker’s stock valued at $12,741,000 after purchasing an additional 12,510 shares during the last quarter. 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.