Shopify (NYSE:SHOP) Stock Price Down 0.5%

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP dropped 0.5% during mid-day trading on Monday . The stock traded as low as $58.42 and last traded at $58.65. Approximately 4,110,600 shares traded hands during trading, a decline of 59% from the average daily volume of 10,102,385 shares. The stock had previously closed at $58.94.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Benchmark reissued a "hold" rating on shares of Shopify in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Shopify from $95.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. Scotiabank decreased their target price on shares of Shopify from $80.00 to $75.00 and set a "sector perform" rating for the company in a research note on Thursday. Wells Fargo & Company cut their price objective on Shopify from $85.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Roth Capital increased their target price on Shopify from $85.00 to $89.00 and gave the company a "buy" rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $76.86.

Shopify Stock Down 0.3 %

The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $75.60 billion, a PE ratio of -345.53, a PEG ratio of 2.39 and a beta of 2.20. The business's fifty day moving average price is $73.85 and its 200 day moving average price is $74.01.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. On average, equities research analysts forecast that Shopify Inc. will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Hedge funds have recently made changes to their positions in the business. Private Wealth Management Group LLC purchased a new stake in Shopify in the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. boosted its holdings in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. DSM Capital Partners LLC purchased a new stake in shares of Shopify during the 4th quarter valued at $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify during the fourth quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP lifted its holdings in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker's stock valued at $31,000 after acquiring an additional 391 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company's stock.

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.

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