Shopify (NYSE:SHOP) Lowered to Sell at DZ Bank

DZ Bank lowered shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a hold rating to a sell rating in a research note published on Friday, Marketbeat Ratings reports.

A number of other analysts have also recently weighed in on the stock. KeyCorp assumed coverage on shares of Shopify in a report on Thursday, July 25th. They set an overweight rating and a $80.00 target price on the stock. Loop Capital dropped their price target on Shopify from $90.00 to $80.00 and set a hold rating on the stock in a research report on Monday, April 15th. Atb Cap Markets upgraded Shopify from a sector perform rating to an outperform rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. began coverage on Shopify in a research report on Tuesday, June 11th. They issued an overweight rating and a $74.00 target price on the stock. Finally, Evercore ISI lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the company an outperform rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $77.24.

Shopify Stock Down 1.4 %

Shares of NYSE:SHOP opened at $68.33 on Friday. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57. 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 firm has a market cap of $88.06 billion, a PE ratio of -401.94, a price-to-earnings-growth ratio of 3.14 and a beta of 2.30. The company has a fifty day simple moving average of $63.61 and a 200 day simple moving average of $69.72.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the firm earned ($0.08) EPS. The company’s revenue was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that Shopify will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tradition Wealth Management LLC increased its holdings in Shopify by 7.5% during the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Willis Johnson & Associates Inc. lifted its stake in Shopify by 5.8% in the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Shopify by 3.2% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after purchasing an additional 150 shares during the period. Valley National Advisers Inc. increased its position in Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after buying an additional 152 shares during the last quarter. Finally, Capital Advisors Inc. OK raised its stake in Shopify by 1.7% in the fourth quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock valued at $723,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds 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.