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Demandware (NASDAQ:DWRE) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports.

Shares of Demandware (NASDAQ:DWRE) traded up 2.29% during mid-day trading on Tuesday, hitting $69.54. 385,662 shares of the company’s stock traded hands. Demandware has a 52 week low of $23.90 and a 52 week high of $70.10. The stock’s 50-day moving average is $62.60 and its 200-day moving average is $51.65. The company’s market cap is $2.155 billion.

Demandware (NASDAQ:DWRE) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.07. The company had revenue of $24.50 million for the quarter, compared to the consensus estimate of $23.65 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. Analysts expect that Demandware will post $-0.23 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on DWRE. Analysts at Barclays initiated coverage on shares of Demandware in a research note to investors on Thursday, December 19th. They set an “overweight” rating and a $76.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Canaccord Genuity raised their price target on shares of Demandware from $65.00 to $70.00 in a research note to investors on Tuesday, December 17th. They now have a “buy” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Demandware from $55.00 to $65.00 in a research note to investors on Wednesday, November 6th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Demandware has an average rating of “Buy” and an average target price of $58.44.

Demandware, Inc (NASDAQ:DWRE) is a provider of software-as-a-service e-commerce solutions that enable companies to design, implement and manage their own customized e-commerce sites, including Websites, mobile applications and other digital storefronts.

The Fly On The Wall

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