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

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

A number of other analysts also recently issued reports on the stock. Truist Financial boosted their price objective on shares of Shopify from $65.00 to $90.00 and gave the company a hold rating in a report on Monday, February 12th. DA Davidson increased their price target on Shopify from $86.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Mizuho lifted their price objective on Shopify from $65.00 to $75.00 and gave the company a neutral rating in a report on Wednesday, February 14th. National Bankshares increased their target price on Shopify from $80.00 to $100.00 and gave the stock an outperform rating in a report on Friday, January 26th. Finally, Wedbush restated a neutral rating and issued a $68.00 price target on shares of Shopify in a research report on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $78.30.

Shopify Price Performance

Shopify stock opened at $69.70 on Tuesday. The company has a market capitalization of $89.67 billion, a price-to-earnings ratio of 774.53 and a beta of 2.22. The stock’s 50 day moving average is $76.35 and its 200-day moving average is $71.84. 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 has a 12 month low of $45.50 and a 12 month high of $91.57.

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

Institutional Trading of Shopify

Several institutional investors have recently added to or reduced their stakes in SHOP. StoneCrest Wealth Management Inc. bought a new stake in shares of Shopify in the 4th quarter valued at $1,164,000. Asset Management One Co. Ltd. grew its holdings in Shopify by 4,007.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after acquiring an additional 34,624 shares during the period. SeaCrest Wealth Management LLC bought a new position in shares of Shopify in the 4th quarter worth about $433,000. Bleakley Financial Group LLC lifted its stake in shares of Shopify by 18.5% in the 4th quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock valued at $840,000 after purchasing an additional 1,681 shares during the period. Finally, Advisor Resource Council bought a new stake in shares of Shopify during the 4th quarter valued at about $1,488,000. 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.