Shopify (NYSE:SHOP) Cut to Neutral at Moffett Nathanson

Moffett Nathanson lowered shares of Shopify (NYSE:SHOPFree Report) (TSE:SHOP) from a buy rating to a neutral rating in a research note published on Thursday, MarketBeat reports. They currently have $65.00 price target on the software maker’s stock, down from their previous price target of $74.00.

A number of other analysts have also recently commented on SHOP. Scotiabank cut their target price on shares of Shopify from $80.00 to $75.00 and set a sector perform rating for the company in a research note on Thursday, May 9th. Citigroup cut their target price on shares of Shopify from $105.00 to $95.00 and set a buy rating for the company in a research note on Thursday, May 9th. Wedbush reissued a neutral rating and set a $68.00 target price on shares of Shopify in a research note on Tuesday, February 13th. Benchmark reissued a hold rating on shares of Shopify in a research note on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Shopify from $95.00 to $80.00 and set a buy rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Shopify presently has a consensus rating of Hold and an average target price of $76.74.

View Our Latest Report on SHOP

Shopify Stock Up 0.4 %

SHOP opened at $61.47 on Thursday. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The company has a fifty day moving average of $66.81 and a two-hundred day moving average of $73.82. The stock has a market capitalization of $79.21 billion, a price-to-earnings ratio of -361.56, a PEG ratio of 2.77 and a beta of 2.27.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. On average, research analysts expect that Shopify will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently made changes to their positions in the stock. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the 4th 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. DSM Capital Partners LLC purchased a new stake in Shopify during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify during the 4th quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP increased its stake in Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

About Shopify

(Get Free Report)

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.

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