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

Shopify (NYSE:SHOP - Free Report) TSE: SHOP had its price target cut by KeyCorp from $140.00 to $105.00 in a research report sent to investors on Wednesday, Marketbeat reports. They currently have an overweight rating on the software maker's stock.

Several other research analysts also recently issued reports on SHOP. Wells Fargo & Company lifted their price target on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. TD Securities upped their price target on shares of Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Barclays raised their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. ATB Capital upped their target price on Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald lowered their target price on Shopify from $120.00 to $80.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Shopify currently has a consensus rating of "Moderate Buy" and an average target price of $119.67.

Shopify Stock Performance

NYSE:SHOP traded up $2.00 during trading hours on Wednesday, hitting $97.12. The company's stock had a trading volume of 7,818,257 shares, compared to its average volume of 9,286,129. The company has a market capitalization of $125.75 billion, a PE ratio of 62.66, a PEG ratio of 4.82 and a beta of 2.82. Shopify has a 52-week low of $48.56 and a 52-week high of $129.38. The business's 50-day moving average is $96.79 and its two-hundred day moving average is $101.92.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate 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, analysts predict that Shopify will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

A number of hedge funds have recently bought and sold shares of the company. Allianz SE acquired a new stake in shares of Shopify during the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% during the fourth 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 bought a new position in shares of Shopify in the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC boosted its stake in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after acquiring an additional 100 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in Shopify during the 4th quarter worth $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.