Shopify (NYSE:SHOP) Trading Down 0.5%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) shares traded down 0.5% on Thursday . The stock traded as low as $64.93 and last traded at $65.28. 1,705,197 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 10,039,758 shares. The stock had previously closed at $65.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada cut their target price on Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Atb Cap Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, May 9th. Finally, The Goldman Sachs Group upped their target price on shares of Shopify from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.42.

Shopify Stock Down 0.4 %

The company has a market capitalization of $84.18 billion, a P/E ratio of -384.00, a price-to-earnings-growth ratio of 3.38 and a beta of 2.30. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $63.38 and its 200 day moving average is $72.44.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Research analysts predict that Shopify Inc. will post 0.61 EPS for the current fiscal year.

Institutional Trading of Shopify

Several large investors have recently added to or reduced their stakes in the stock. Wealth Management Partners LLC lifted its position in Shopify by 0.9% during the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after acquiring an additional 126 shares during the period. SJS Investment Consulting Inc. increased its position in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares in the last quarter. Tradition Wealth Management LLC raised its stake in Shopify by 7.5% during the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after buying an additional 140 shares during the last quarter. Pachira Investments Inc. boosted its holdings in Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares in the last quarter. Finally, Baldwin Brothers LLC MA increased its holdings in shares of Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares in the last quarter. 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.