Shopify (NYSE:SHOP) Downgraded to “Sell” at StockNews.com

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

A number of other equities analysts also recently issued reports on the stock. JMP Securities reiterated a market perform rating on shares of Shopify in a report on Monday, December 18th. The Goldman Sachs Group raised their price objective on Shopify from $67.00 to $75.00 and gave the company a neutral rating in a research note on Thursday, February 29th. Mizuho boosted their target price on Shopify from $65.00 to $75.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. National Bankshares upped their target price on Shopify from $80.00 to $100.00 and gave the company an outperform rating in a report on Friday, January 26th. Finally, BNP Paribas downgraded Shopify from a neutral rating to an underperform rating in a research note on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $78.00.

Shopify Stock Up 0.2 %

Shares of NYSE:SHOP opened at $68.69 on Tuesday. The company has a market cap of $88.37 billion, a price-to-earnings ratio of 763.31 and a beta of 2.22. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The firm’s 50-day simple moving average is $77.45 and its 200-day simple moving average is $71.76. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. As a group, equities research analysts predict that Shopify will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Private Wealth Management Group LLC purchased a new stake in shares of Shopify during the fourth quarter valued at approximately $26,000. SJS Investment Consulting Inc. increased its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares during the period. PCA Investment Advisory Services Inc. acquired a new position in Shopify in the 2nd quarter worth $27,000. DSM Capital Partners LLC purchased a new position in Shopify in the 4th quarter valued at about $28,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Shopify during the fourth quarter valued at about $28,000. Institutional investors and hedge funds 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.