Shopify Inc (US) (SHOP) Stock Rating Lowered by Vetr

Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday. They currently have a $152.05 target price on the software maker’s stock. Vetr‘s price target would indicate a potential upside of 10.53% from the company’s current price.

Other analysts also recently issued research reports about the stock. Piper Jaffray Companies lifted their price target on shares of Shopify Inc (US) from $110.00 to $120.00 in a research note on Tuesday, October 31st. Roth Capital lifted their price objective on shares of Shopify Inc (US) from $119.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. KeyCorp reissued a “buy” rating and set a $116.00 price objective on shares of Shopify Inc (US) in a report on Wednesday, November 1st. Monness Crespi & Hardt raised shares of Shopify Inc (US) from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Friday, October 27th. Finally, BidaskClub raised shares of Shopify Inc (US) from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. Shopify Inc (US) has an average rating of “Buy” and a consensus price target of $109.64.

Shopify Inc (NYSE SHOP) traded up $11.50 during trading on Wednesday, hitting $137.56. 4,179,333 shares of the stock traded hands, compared to its average volume of 1,430,000. The company has a quick ratio of 10.64, a current ratio of 10.64 and a debt-to-equity ratio of 0.02. Shopify Inc has a 1 year low of $54.30 and a 1 year high of $138.16. The company has a market capitalization of $13,660.00 and a P/E ratio of -280.73.

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC grew its holdings in shares of Shopify Inc (US) by 26.6% during the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after buying an additional 298 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Shopify Inc (US) during the fourth quarter valued at $152,000. US Bancorp DE grew its holdings in shares of Shopify Inc (US) by 63.8% during the fourth quarter. US Bancorp DE now owns 1,889 shares of the software maker’s stock valued at $191,000 after buying an additional 736 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Shopify Inc (US) during the third quarter valued at $233,000. Finally, Sterling Investment Advisors Ltd. purchased a new stake in shares of Shopify Inc (US) during the fourth quarter valued at $202,000. 54.61% of the stock is currently owned by hedge funds and other institutional investors.

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Shopify Inc (US) Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Shopify Inc (US) (NYSE:SHOP)

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