Shopify (NYSE:SHOP) Rating Lowered to Sell at DZ Bank

DZ Bank cut shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a hold rating to a sell rating in a report published on Thursday morning, Marketbeat.com reports.

SHOP has been the topic of a number of other reports. Mizuho increased their target price on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Scotiabank raised their target price on shares of Shopify from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, October 24th. Argus raised Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. Finally, Citigroup boosted their price objective on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Up 0.5 %

Shares of NYSE SHOP opened at $106.96 on Thursday. Shopify has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $138.02 billion, a P/E ratio of 99.96, a PEG ratio of 2.80 and a beta of 2.36. The stock’s 50 day moving average price is $85.50 and its two-hundred day moving average price is $72.18.

Institutional Investors Weigh In On Shopify

A number of large investors have recently made changes to their positions in SHOP. TCW Group Inc. boosted its stake in Shopify by 0.9% in the 3rd quarter. TCW Group Inc. now owns 1,308,745 shares of the software maker’s stock worth $104,883,000 after purchasing an additional 11,903 shares during the period. TD Private Client Wealth LLC purchased a new stake in shares of Shopify in the third quarter valued at $1,232,000. Arete Wealth Advisors LLC purchased a new stake in shares of Shopify in the third quarter valued at $568,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Shopify by 29.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after buying an additional 77,500 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in shares of Shopify by 0.7% during the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares in the last quarter. 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.