Shopify (NYSE:SHOP) Given "Neutral" Rating at Cantor Fitzgerald

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP's stock had its "neutral" rating reissued by stock analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $91.00 target price on the software maker's stock. Cantor Fitzgerald's price target indicates a potential downside of 17.02% from the company's current price.

A number of other brokerages have also recently issued reports on SHOP. Mizuho decreased their price objective on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price objective on shares of Shopify from $124.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Loop Capital cut their target price on Shopify from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on shares of Shopify from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird raised their target price on Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $115.39.

Shopify Trading Down 3.9%

NYSE SHOP traded down $4.46 during trading on Wednesday, reaching $109.67. The company's stock had a trading volume of 5,582,880 shares, compared to its average volume of 11,183,869. The firm has a market capitalization of $142.00 billion, a price-to-earnings ratio of 70.76, a price-to-earnings-growth ratio of 4.82 and a beta of 2.63. The firm has a 50 day moving average price of $97.46 and a 200 day moving average price of $105.15. Shopify has a 12 month low of $48.56 and a 12 month high of $129.38.

Institutional Trading of Shopify

A number of hedge funds have recently made changes to their positions in SHOP. Allianz SE bought a new stake in Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after purchasing an additional 256 shares during the period. Fourth Dimension Wealth LLC purchased a new position in shares of Shopify during the 4th quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC raised its holdings in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Smithfield Trust Co lifted its position in Shopify by 149.2% during the 1st quarter. Smithfield Trust Co now owns 314 shares of the software maker's stock valued at $30,000 after acquiring an additional 188 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.