Shopify (NYSE:SHOP) Stock Rating Lowered by Phillip Securities

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by research analysts at Phillip Securities from a “strong-buy” rating to a “moderate buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. KeyCorp increased their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 target price on shares of Shopify in a research note on Wednesday, February 12th. TD Securities increased their target price on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their price objective on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada raised their price objective on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Up 0.7 %

Shopify stock opened at $129.20 on Monday. Shopify has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a 50 day moving average of $112.48 and a two-hundred day moving average of $94.23. The stock has a market capitalization of $166.94 billion, a price-to-earnings ratio of 83.35, a PEG ratio of 5.06 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Equities analysts predict that Shopify will post 1.11 earnings per share for the current year.

Institutional Trading of Shopify

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allianz SE bought a new stake in Shopify in the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC increased its holdings in Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in Shopify in the fourth quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Shopify in the third quarter valued at approximately $33,000. 69.27% of the stock is owned by institutional investors.

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.