Shopify (NYSE:SHOP) Shares Down 2.6% – Time to Sell?

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) dropped 2.6% during trading on Friday . The company traded as low as $99.45 and last traded at $99.84. Approximately 2,143,871 shares changed hands during trading, a decline of 73% from the average daily volume of 8,047,408 shares. The stock had previously closed at $102.49.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Friday, December 6th. CIBC increased their price objective on Shopify from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. DA Davidson raised their target price on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, New Street Research began coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Down 2.4 %

The company has a market capitalization of $129.57 billion, a P/E ratio of 64.52, a PEG ratio of 4.82 and a beta of 2.47. The company has a 50 day simple moving average of $112.42 and a two-hundred day simple moving average of $97.62.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of institutional investors and hedge funds have recently bought and sold shares of SHOP. Cim LLC bought a new stake in shares of Shopify in the fourth quarter valued at about $1,313,000. Total Wealth Planning & Management Inc. bought a new stake in shares of Shopify in the 4th quarter valued at about $232,000. Brooklyn FI LLC bought a new position in shares of Shopify during the fourth quarter valued at approximately $452,000. Brucke Financial Inc. purchased a new position in Shopify during the fourth quarter valued at approximately $718,000. Finally, Capital A Wealth Management LLC bought a new position in Shopify in the fourth quarter worth approximately $340,000. 69.27% of the stock is owned by institutional investors.

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.