StockNews.com Downgrades Shopify (NYSE:SHOP) to Sell

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Other analysts also recently issued research reports about the stock. National Bankshares boosted their price objective on shares of Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. UBS Group boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Robert W. Baird boosted their price objective on shares of Shopify from $85.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Barclays reduced their price objective on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Shopify in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.00.

Shopify Trading Up 1.1 %

Shares of SHOP stock opened at $69.43 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The stock has a market capitalization of $89.33 billion, a P/E ratio of 771.53 and a beta of 2.22. The company has a 50 day moving average price of $77.14 and a 200 day moving average price of $71.75. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Equities research analysts predict that Shopify will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of hedge funds and other institutional investors have recently modified their holdings of SHOP. Private Wealth Management Group LLC acquired a new stake in shares of Shopify in the fourth quarter worth approximately $26,000. SJS Investment Consulting Inc. boosted its position in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new stake in shares of Shopify in the second quarter worth approximately $27,000. DSM Capital Partners LLC acquired a new stake in shares of Shopify in the fourth quarter worth approximately $28,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the fourth quarter worth approximately $28,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

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.