Shopify (NYSE:SHOP) Trading Down 4.1%

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) fell 4.1% during mid-day trading on Monday . The company traded as low as $48.56 and last traded at $52.22. 6,250,599 shares traded hands during trading, a decline of 37% from the average session volume of 9,965,314 shares. The stock had previously closed at $54.43.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHOP. Moffett Nathanson lowered Shopify from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $74.00 to $65.00 in a research note on Thursday, June 6th. JPMorgan Chase & Co. began coverage on Shopify in a report on Tuesday, June 11th. They set an “overweight” rating and a $74.00 price target for the company. Royal Bank of Canada lowered their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Canaccord Genuity Group cut their target price on shares of Shopify from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, CIBC reduced their price target on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.78.

Shopify Stock Up 17.8 %

The firm’s 50 day moving average price is $62.92 and its 200-day moving average price is $70.09. 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 company has a market cap of $82.31 billion, a P/E ratio of -375.71, a price-to-earnings-growth ratio of 3.15 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, equities research analysts expect that Shopify Inc. will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in shares of Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares in the last quarter. Capital World Investors raised its stake in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares during the period. Vanguard Group Inc. lifted its holdings in Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. Finally, GQG Partners LLC raised its position in shares of Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Institutional investors and hedge funds 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.