Barclays Issues Pessimistic Forecast for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target dropped by stock analysts at Barclays from $100.00 to $94.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target points to a potential upside of 2.43% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. DA Davidson reduced their price objective on shares of Shopify from $150.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. National Bankshares dropped their price objective on shares of Shopify from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Oppenheimer reduced their target price on Shopify from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. New Street Research assumed coverage on Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. Finally, Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.37.

Shopify Stock Performance

SHOP opened at $91.77 on Friday. The stock has a market cap of $118.83 billion, a price-to-earnings ratio of 59.21, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The firm’s fifty day moving average is $93.29 and its 200 day moving average is $102.89. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Diversified Trust Co purchased a new position in shares of Shopify during the fourth quarter valued at $279,000. Fulton Bank N.A. purchased a new position in Shopify during the 4th quarter valued at about $286,000. First Hawaiian Bank bought a new stake in shares of Shopify in the 4th quarter valued at about $744,000. Watts Gwilliam & Co. LLC lifted its position in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after purchasing an additional 4,641 shares during the period. Finally, Baker Tilly Wealth Management LLC boosted its stake in shares of Shopify by 3.2% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 14,437 shares of the software maker’s stock valued at $1,535,000 after purchasing an additional 445 shares in the last quarter. Institutional investors 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.