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

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by equities researchers at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Robert W. Baird raised their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday. Wolfe Research initiated coverage on shares of Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target for the company. Evercore raised their price target on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Mizuho raised their price target on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley raised their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Up 5.7 %

Shopify stock opened at $115.13 on Tuesday. Shopify has a 1-year low of $48.56 and a 1-year high of $115.62. The firm has a market capitalization of $148.56 billion, a price-to-earnings ratio of 107.60, a P/E/G ratio of 3.64 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a 50 day simple moving average of $79.47 and a 200 day simple moving average of $70.18.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. On average, analysts predict that Shopify will post 0.76 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

Institutional investors and hedge funds have recently made changes to their positions in the business. Silvercrest Asset Management Group LLC grew its stake in shares of Shopify by 735.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after buying an additional 46,589 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in shares of Shopify by 10.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock worth $17,390,000 after buying an additional 21,265 shares in the last quarter. Atria Investments Inc boosted its stake in shares of Shopify by 16.8% during the 3rd quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock worth $12,693,000 after purchasing an additional 22,832 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Shopify by 3.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,371 shares of the software maker’s stock worth $15,079,000 after purchasing an additional 7,009 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Shopify by 5.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock worth $40,838,000 after purchasing an additional 28,639 shares during the period. 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.