Shopify (NYSE:SHOP) Price Target Cut to $110.00 by Analysts at Jefferies Financial Group

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP had its target price decreased by equities research analysts at Jefferies Financial Group from $130.00 to $110.00 in a report released on Monday,Benzinga reports. The firm presently has a "hold" rating on the software maker's stock. Jefferies Financial Group's price target points to a potential upside of 11.16% from the company's previous close.

Several other equities analysts have also weighed in on SHOP. Wells Fargo & Company increased their price objective on Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Wedbush reissued an "outperform" rating and issued a $110.00 price objective on shares of Shopify in a report on Tuesday, April 15th. Royal Bank of Canada reduced their target price on shares of Shopify from $145.00 to $125.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. DA Davidson lowered their price target on shares of Shopify from $150.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, TD Securities lifted their price target on Shopify from $100.00 to $130.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $117.11.

Shopify Stock Down 0.3 %

SHOP stock traded down $0.30 during mid-day trading on Monday, reaching $98.95. 3,778,977 shares of the company traded hands, compared to its average volume of 9,292,170. The firm's 50 day moving average price is $94.71 and its 200 day moving average price is $102.59. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a market cap of $128.13 billion, a price-to-earnings ratio of 63.82, a P/E/G ratio of 4.82 and a beta of 2.66.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, analysts anticipate that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jennison Associates LLC purchased a new stake in Shopify during the fourth quarter worth about $132,323,000. Watts Gwilliam & Co. LLC grew its holdings in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Synovus Financial Corp purchased a new position in Shopify in the 3rd quarter valued at approximately $481,000. Western Financial Corp CA acquired a new position in Shopify during the fourth quarter worth $239,000. Finally, Kessler Investment Group LLC acquired a new stake in Shopify in the fourth quarter valued at $6,105,000. 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.

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