Shopify (NYSE:SHOP) Stock Rating Lowered by BNP Paribas

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by research analysts at BNP Paribas from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

SHOP has been the topic of several other reports. Cantor Fitzgerald reduced their price target on Shopify from $120.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Canaccord Genuity Group upped their target price on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada decreased their price objective on shares of Shopify from $145.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Finally, Evercore ISI lifted their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.00.

Shopify Stock Down 4.6 %

Shares of SHOP stock opened at $93.83 on Monday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm’s 50 day moving average price is $94.07 and its two-hundred day moving average price is $102.63. The stock has a market cap of $121.49 billion, a price-to-earnings ratio of 60.54, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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 analysts forecast that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC bought a new position in Shopify in the 4th quarter valued at about $132,323,000. Watts Gwilliam & Co. LLC boosted its holdings in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares in the last quarter. Synovus Financial Corp bought a new position in shares of Shopify in the third quarter valued at approximately $481,000. Western Financial Corp CA acquired a new position in shares of Shopify during the fourth quarter valued at approximately $239,000. Finally, Kessler Investment Group LLC bought a new stake in Shopify during the fourth quarter worth approximately $6,105,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

About Shopify

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.