Shopify (NYSE:SHOP) Shares Down 3.6% – Should You Sell?

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) traded down 3.6% on Tuesday . The company traded as low as $93.60 and last traded at $93.11. 1,163,235 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 8,515,375 shares. The stock had previously closed at $96.59.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SHOP shares. Canaccord Genuity Group increased their price target on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Monday, February 10th. Wells Fargo & Company upped their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Finally, Jefferies Financial Group boosted their price target on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Performance

The stock has a fifty day simple moving average of $110.15 and a two-hundred day simple moving average of $99.10. The stock has a market capitalization of $131.66 billion, a price-to-earnings ratio of 65.60, a P/E/G ratio of 4.82 and a beta of 2.60.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allianz SE acquired a new stake in shares of Shopify in the 4th quarter valued at about $27,000. PFG Private Wealth Management LLC raised its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the period. Fourth Dimension Wealth LLC acquired a new position in Shopify during the fourth quarter worth $30,000. Mark Sheptoff Financial Planning LLC lifted its position in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Shopify during the third quarter valued at approximately $33,000. 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.