Shopify Inc. (SHOP) Stock Rating Lowered by Vetr Inc.
Shopify Inc. (NYSE:SHOP) (TSE:SH) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Tuesday. They currently have a $120.91 price objective on the software maker’s stock. Vetr‘s price target suggests a potential upside of 1.43% from the stock’s previous close.
A number of other analysts also recently weighed in on the stock. KeyCorp reaffirmed a “buy” rating and issued a $116.00 target price on shares of Shopify in a research report on Friday, September 8th. DA Davidson assumed coverage on shares of Shopify in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $95.00 target price on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $110.00 target price on shares of Shopify in a research report on Tuesday, September 5th. BidaskClub raised shares of Shopify from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. Finally, Ifs Securities assumed coverage on shares of Shopify in a research report on Thursday, August 24th. They issued an “outperform” rating and a $115.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $91.95.
Shopify (SHOP) opened at 119.21 on Tuesday. The stock’s 50 day moving average is $119.25 and its 200-day moving average is $76.75. The firm’s market capitalization is $11.75 billion. Shopify has a one year low of $37.74 and a one year high of $122.50.
Shopify (NYSE:SHOP) (TSE:SH) last released its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $151.70 million for the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The company’s revenue was up 75.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. On average, analysts anticipate that Shopify will post ($0.05) EPS for the current fiscal year.
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Several large investors have recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in shares of Shopify by 21,678.2% in the 2nd quarter. Toronto Dominion Bank now owns 354,985 shares of the software maker’s stock worth $30,821,000 after purchasing an additional 353,355 shares during the period. Cetera Investment Advisers bought a new position in shares of Shopify in the 2nd quarter worth approximately $755,000. Advisory Services Network LLC lifted its stake in shares of Shopify by 26.6% in the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after purchasing an additional 298 shares during the period. High Falls Advisors Inc bought a new position in shares of Shopify in the 2nd quarter worth approximately $322,000. Finally, Scotia Capital Inc. lifted its stake in shares of Shopify by 43.7% in the 2nd quarter. Scotia Capital Inc. now owns 24,415 shares of the software maker’s stock worth $2,120,000 after purchasing an additional 7,420 shares during the period. Hedge funds and other institutional investors own 53.78% of the company’s stock.
Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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