Shopify (NYSE:SHOP) Shares Down 4.4%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) shares traded down 4.4% during trading on Monday . The company traded as low as $63.05 and last traded at $63.14. 3,484,217 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 10,265,929 shares. The stock had previously closed at $66.05.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHOP. TD Securities dropped their target price on shares of Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Scotiabank dropped their price objective on Shopify from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 9th. Citigroup lifted their target price on Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. DA Davidson dropped their price target on Shopify from $90.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, BNP Paribas raised shares of Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.42.

Shopify Stock Performance

The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $64.08 and a two-hundred day moving average of $72.91.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Equities research analysts expect that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wealth Management Partners LLC boosted its stake in shares of Shopify by 0.9% in the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after purchasing an additional 126 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings 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 acquiring an additional 130 shares during the period. Tradition Wealth Management LLC raised its position in shares of Shopify by 7.5% in the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after acquiring an additional 140 shares in the last quarter. Pachira Investments Inc. boosted its position in shares of Shopify by 2.1% during the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares in the last quarter. Finally, Baldwin Brothers LLC MA grew its stake in Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after purchasing an additional 147 shares during the period. 69.27% of the stock is 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.