Benchmark Has Lowered Expectations for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP - Free Report) TSE: SHOP had its price objective decreased by Benchmark from $150.00 to $125.00 in a research note released on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the software maker's stock.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Cantor Fitzgerald lowered their price objective on shares of Shopify from $120.00 to $80.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Robert W. Baird raised their target price on shares of Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. TD Securities increased their price objective on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Finally, DA Davidson cut their target price on Shopify from $150.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.00.

Shopify Price Performance

SHOP stock traded down $2.40 on Tuesday, reaching $91.60. 2,593,318 shares of the company were exchanged, compared to its average volume of 9,220,003. The stock's fifty day moving average price is $93.49 and its 200 day moving average price is $102.66. Shopify has a 12 month low of $48.56 and a 12 month high of $129.38. The firm has a market capitalization of $118.61 billion, a PE ratio of 59.10, a PEG ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts expect that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Trading of Shopify

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors lifted its position in Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after acquiring an additional 496,982 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock valued at $5,010,721,000 after purchasing an additional 781,162 shares during the period. FMR LLC boosted its stake in shares of Shopify by 3.4% during the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after acquiring an additional 1,426,000 shares during the last quarter. Capital International Investors lifted its position in Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock valued at $3,883,039,000 after purchasing an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. Hedge funds and other institutional investors 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.