Shopify (NASDAQ:SHOP) Cut to “Hold” at Rothschild & Co Redburn

Rothschild & Co Redburn downgraded shares of Shopify (NASDAQ:SHOP) (TSE:SHOP) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat.com reports. They currently have $130.00 target price on the software maker’s stock.

Several other research analysts have also recently issued reports on the company. DA Davidson decreased their price target on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Zacks Research upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Susquehanna began coverage on shares of Shopify in a research report on Friday, July 10th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.86.

Shopify Price Performance

SHOP opened at $112.00 on Tuesday. Shopify has a 12 month low of $94.00 and a 12 month high of $182.19. The stock has a market cap of $145.34 billion, a P/E ratio of 110.89, a P/E/G ratio of 2.55 and a beta of 2.58. The stock’s 50 day moving average price is $114.12 and its 200 day moving average price is $122.19.

Institutional Trading of Shopify

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kingdom Financial Group LLC. acquired a new position in Shopify during the fourth quarter worth about $26,000. Curio Wealth LLC acquired a new stake in Shopify in the 4th quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Shopify during the 4th quarter valued at about $29,000. Lloyd Advisory Services LLC. acquired a new position in shares of Shopify in the 4th quarter worth approximately $31,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Shopify in the 4th quarter worth approximately $31,000. Institutional investors own 69.27% of the company’s stock.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Several recent articles highlighted Shopify’s strong growth profile, pointing to its ability to generate exceptional returns and calling it attractive for growth investors. 3 Reasons Why Growth Investors Shouldn’t Overlook Shopify (SHOP)
• Positive Sentiment: Analyst coverage remained upbeat overall, with reports saying Wall Street sees Shopify as a buy and consensus price targets implying meaningful upside from current levels. Wall Street Analysts See Shopify (SHOP) as a Buy: Should You Invest?
• Positive Sentiment: Another analyst-focused piece said Shopify could surge about 27.9% based on consensus estimates, suggesting expectations for continued earnings momentum. Wall Street Analysts Think Shopify (SHOP) Could Surge 27.88%: Read This Before Placing a Bet
• Neutral Sentiment: Shopify ecosystem news remained constructive, as OneMagnify earned Premier Partner status, which underscores ongoing platform adoption and partner activity. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Negative Sentiment: Offsetting the bullish commentary, Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though its new price target still implies upside. Zacks.com
• Negative Sentiment: Separate coverage noted unusually high options volume and an earlier session where Shopify lagged the broader market, suggesting traders have been active and cautious around the stock. Shopify Sees Unusually High Options Volume (NASDAQ:SHOP)

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.