Atb Cap Markets Downgrades Shopify (NYSE:SHOP) to Hold

Atb Cap Markets lowered shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Several other research firms have also issued reports on SHOP. Barclays upped their price target on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday. Evercore increased their target price on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Morgan Stanley lifted their price target on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Performance

Shares of NYSE SHOP opened at $109.08 on Tuesday. The stock’s 50-day moving average is $80.36 and its 200 day moving average is $70.50. The stock has a market cap of $140.76 billion, a price-to-earnings ratio of 101.94, a P/E/G ratio of 3.64 and a beta of 2.36. Shopify has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. On average, sell-side analysts anticipate that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of institutional investors have recently modified their holdings of the stock. GQG Partners LLC increased its position in shares of Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Capital World Investors boosted its stake in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.