Shopify (NYSE:SHOP) Downgraded to Hold Rating by BNP Paribas

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP was downgraded by investment analysts at BNP Paribas from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Marketbeat reports.

A number of other research firms also recently issued reports on SHOP. Scotiabank decreased their price objective on Shopify from $120.00 to $90.00 and set a "sector perform" rating for the company in a report on Monday, April 28th. Barclays boosted their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 12th. Robert W. Baird raised their target price on shares of Shopify from $126.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. KeyCorp cut their price target on shares of Shopify from $140.00 to $105.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Mizuho decreased their price objective on Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Shopify currently has an average rating of "Moderate Buy" and a consensus target price of $115.37.

Shopify Stock Down 2.4 %

Shares of SHOP traded down $2.23 on Monday, hitting $91.77. The company's stock had a trading volume of 15,336,944 shares, compared to its average volume of 9,223,425. The firm's fifty day moving average price is $93.49 and its 200-day moving average price is $102.66. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market capitalization of $118.83 billion, a price-to-earnings ratio of 59.21, a P/E/G ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly 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 net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts predict that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new stake in shares of Shopify in the fourth quarter worth $132,323,000. Watts Gwilliam & Co. LLC grew its stake in shares of Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock valued at $1,431,000 after purchasing an additional 4,641 shares during the period. Synovus Financial Corp purchased a new stake in shares of Shopify during the 3rd quarter valued at about $481,000. Western Financial Corp CA bought a new position in shares of Shopify in the 4th quarter worth approximately $239,000. Finally, Kessler Investment Group LLC purchased a new position in shares of Shopify in the fourth quarter worth approximately $6,105,000. 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.