Shopify (NYSE:SHOP) Trading Down 2.5%

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP's stock price traded down 2.5% on Tuesday . The stock traded as low as $56.92 and last traded at $57.32. 8,215,348 shares were traded during mid-day trading, a decline of 19% from the average session volume of 10,167,764 shares. The stock had previously closed at $58.78.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Securities decreased their target price on Shopify from $80.00 to $72.00 and set a "hold" rating for the company in a research report on Thursday, May 9th. Morgan Stanley raised shares of Shopify from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Wedbush reissued a "neutral" rating and set a $68.00 price target on shares of Shopify in a research report on Tuesday, February 13th. Citigroup lowered their price objective on shares of Shopify from $105.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, May 9th. Finally, BNP Paribas upgraded Shopify from an "underperform" rating to an "outperform" rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Shopify presently has an average rating of "Hold" and an average target price of $76.86.

Shopify Price Performance

The business has a fifty day moving average of $73.51 and a two-hundred day moving average of $74.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The firm has a market capitalization of $74.66 billion, a price-to-earnings ratio of -341.88, a price-to-earnings-growth ratio of 2.39 and a beta of 2.20.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping analysts' consensus estimates 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 negative net margin of 2.82% and a positive return on equity of 7.36%. As a group, research analysts predict that Shopify Inc. will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Institutional investors have recently made changes to their positions in the company. Wealth Management Partners LLC increased its position in Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker's stock worth $1,085,000 after acquiring an additional 126 shares during the period. SJS Investment Consulting Inc. raised its position in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock valued at $27,000 after buying an additional 130 shares in the last quarter. Tradition Wealth Management LLC boosted its stake in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker's stock valued at $156,000 after buying an additional 140 shares during the period. Pachira Investments Inc. grew its position in Shopify by 2.1% during the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker's stock worth $552,000 after buying an additional 146 shares in the last quarter. Finally, Baldwin Brothers LLC MA increased its stake in Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker's stock worth $35,000 after acquiring an additional 147 shares during the period. 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.