Shopify (NYSE:SHOP) Stock Rating Lowered by DZ Bank

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by analysts at DZ Bank from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

Other research analysts also recently issued reports about the company. Loop Capital upped their price target on Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada upped their price objective on shares of Shopify from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their price objective on shares of Shopify from $80.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley boosted their target price on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Trading Up 0.5 %

SHOP opened at $106.96 on Thursday. The company has a market cap of $138.02 billion, a P/E ratio of 99.96, a price-to-earnings-growth ratio of 3.09 and a beta of 2.36. The company has a fifty day moving average price of $85.50 and a two-hundred day moving average price of $72.15. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify has a 1-year low of $48.56 and a 1-year high of $115.62.

Institutional Investors Weigh In On Shopify

A number of hedge funds and other institutional investors have recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group grew its position in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Brooklyn Investment Group purchased a new position in Shopify during the 3rd quarter valued at about $33,000. Rosenberg Matthew Hamilton increased its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Shopify in the second quarter worth about $33,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Shopify in the second quarter valued at approximately $33,000. 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.