Shopify (NYSE:SHOP) Stock Price Down 3.8%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) traded down 3.8% during trading on Monday . The company traded as low as $64.78 and last traded at $65.12. 2,162,137 shares were traded during mid-day trading, a decline of 79% from the average session volume of 10,380,907 shares. The stock had previously closed at $67.66.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SHOP shares. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Thursday, May 9th. Evercore ISI upgraded shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. Finally, Royal Bank of Canada cut their target price on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.49.

Shopify Trading Down 3.4 %

The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The firm has a market cap of $82.80 billion, a P/E ratio of -377.94, a price-to-earnings-growth ratio of 3.61 and a beta of 2.27. The firm’s 50-day simple moving average is $64.98 and its 200 day simple moving average is $73.44.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, analysts expect that Shopify Inc. will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. StoneCrest Wealth Management Inc. bought a new stake in shares of Shopify during the 4th quarter valued at $1,164,000. FIL Ltd grew its holdings in Shopify by 1.8% during the 4th quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock valued at $1,035,688,000 after buying an additional 238,596 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Shopify by 4,007.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after buying an additional 34,624 shares during the period. SeaCrest Wealth Management LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $433,000. Finally, Evoke Wealth LLC purchased a new position in Shopify during the fourth quarter valued at approximately $2,551,000. 69.27% of the stock is currently owned by institutional investors.

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.