Shopify (NYSE:SHOP) Cut to Hold at Atb Cap Markets

Atb Cap Markets cut 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.

Other equities analysts also recently issued research reports about the company. Citigroup lifted their price target on Shopify from $90.00 to $103.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada lifted their target price on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday. Oppenheimer increased their price target on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Roth Mkm increased their target price on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seventeen have assigned 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, the company has a consensus rating of “Moderate Buy” and an average price target of $94.95.

Shopify Trading Down 5.2 %

SHOP opened at $109.08 on Tuesday. The company has a fifty day moving average price of $80.36 and a two-hundred day moving average price of $70.50. Shopify has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a market cap of $140.76 billion, a P/E ratio of 101.94, a price-to-earnings-growth 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. Shopify had a return on equity of 11.94% and a net margin of 16.84%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analysts predict that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shopify

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the period. Brooklyn Investment Group purchased a new stake in Shopify in the third quarter valued at approximately $33,000. Rosenberg Matthew Hamilton lifted its position in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Cultivar Capital Inc. purchased a new position in Shopify in the 2nd quarter worth approximately $33,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Shopify in the 2nd quarter worth $33,000. 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.