Shopify (NYSE:SHOP) Downgraded by StockNews.com

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Tuesday.

A number of other equities analysts have also recently issued reports on the stock. CIBC boosted their price objective on shares of Shopify from $82.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, February 7th. Citigroup decreased their price objective on shares of Shopify from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 14th. BNP Paribas cut shares of Shopify from a "neutral" rating to an "underperform" rating in a research report on Thursday, January 18th. UBS Group boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Wednesday, February 14th. Finally, Robert W. Baird boosted their price objective on shares of Shopify from $85.00 to $87.00 and gave the company an "outperform" rating in a research report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $78.00.

Shopify Trading Up 0.2 %

Shopify stock traded up $0.12 during mid-day trading on Tuesday, hitting $68.69. The company's stock had a trading volume of 9,246,147 shares, compared to its average volume of 9,542,904. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock has a market cap of $88.37 billion, a price-to-earnings ratio of 763.31 and a beta of 2.22. The business has a 50 day moving average price of $77.45 and a 200-day moving average price of $71.76. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, analysts forecast that Shopify will post 0.57 EPS for the current year.

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHOP. StoneCrest Wealth Management Inc. bought a new position in Shopify in the fourth quarter worth approximately $1,164,000. Asset Management One Co. Ltd. raised its position in Shopify by 4,007.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker's stock worth $2,807,000 after acquiring an additional 34,624 shares during the period. SeaCrest Wealth Management LLC bought a new position in Shopify in the fourth quarter worth approximately $433,000. Bleakley Financial Group LLC raised its position in Shopify by 18.5% in the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker's stock worth $840,000 after acquiring an additional 1,681 shares during the period. Finally, Advisor Resource Council bought a new position in Shopify in the fourth quarter worth approximately $1,488,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.