Shopify (NASDAQ:SHOP) Trading Down 2.3% – Time to Sell?

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) shares were down 2.3% on Friday . The company traded as low as $146.88 and last traded at $152.41. Approximately 10,071,170 shares were traded during trading, an increase of 4% from the average daily volume of 9,707,524 shares. The stock had previously closed at $156.05.

Wall Street Analyst Weigh In

SHOP has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Barclays set a $140.00 target price on Shopify and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus set a $175.00 target price on Shopify in a research note on Tuesday. Truist Financial set a $155.00 price target on Shopify and gave the company a “hold” rating in a research report on Tuesday. Finally, Arete Research upgraded Shopify to a “hold” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $163.89.

Shopify Price Performance

The business has a 50 day moving average price of $155.37 and a 200 day moving average price of $129.48. The stock has a market capitalization of $198.08 billion, a PE ratio of 112.90, a PEG ratio of 6.81 and a beta of 2.73.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Shopify has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Shopify Inc. will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

Hedge funds have recently bought and sold shares of the business. Family Legacy Financial Solutions LLC purchased a new position in shares of Shopify during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. purchased a new stake in Shopify during the 2nd quarter valued at $27,000. Rothschild Investment LLC lifted its holdings in shares of Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in shares of Shopify in the 3rd quarter worth $27,000. Finally, Tradewinds Capital Management LLC grew its holdings in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.