Shopify (NYSE:SHOP) Upgraded by StockNews.com to “Sell”

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) was upgraded by StockNews.com to a “sell” rating in a research note issued to investors on Thursday.

SHOP has been the subject of several other research reports. Canaccord Genuity Group decreased their target price on Shopify from $1,450.00 to $800.00 in a research note on Thursday, February 17th. Piper Sandler decreased their target price on Shopify from $900.00 to $800.00 and set an “overweight” rating for the company in a research note on Tuesday. Loop Capital cut their price target on Shopify from $1,300.00 to $800.00 and set a “hold” rating on the stock in a report on Thursday, February 17th. Sumitomo Mitsui Financial Group initiated coverage on Shopify in a report on Thursday, January 27th. They issued an “outperform” rating and a $1,200.00 price target on the stock. Finally, Evercore ISI cut their price target on Shopify from $1,770.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Thursday, February 17th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $1,134.02.

Shares of SHOP stock opened at $525.00 on Thursday. The stock has a 50-day moving average of $657.55 and a 200-day moving average of $1,092.99. Shopify has a 1-year low of $510.02 and a 1-year high of $1,762.92. The stock has a market cap of $66.10 billion, a price-to-earnings ratio of 22.94 and a beta of 1.63. The company has a current ratio of 12.15, a quick ratio of 12.15 and a debt-to-equity ratio of 0.10.

Shares of Shopify are scheduled to split before the market opens on Wednesday, June 29th. The 10-1 split was announced on Monday, April 11th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, June 28th.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last released its earnings results on Wednesday, February 16th. The software maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.53 by $0.09. Shopify had a return on equity of 4.38% and a net margin of 63.20%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The firm’s revenue was up 41.1% on a year-over-year basis. Sell-side analysts forecast that Shopify will post -2.06 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. Jennison Associates LLC boosted its stake in Shopify by 1.4% during the fourth quarter. Jennison Associates LLC now owns 4,696,965 shares of the software maker’s stock valued at $6,469,553,000 after buying an additional 65,144 shares during the period. Capital World Investors lifted its stake in Shopify by 2.0% during the fourth quarter. Capital World Investors now owns 4,489,765 shares of the software maker’s stock worth $6,184,252,000 after purchasing an additional 90,070 shares during the last quarter. Capital Research Global Investors lifted its stake in Shopify by 48.0% during the fourth quarter. Capital Research Global Investors now owns 2,105,757 shares of the software maker’s stock worth $2,900,449,000 after purchasing an additional 683,314 shares during the last quarter. WCM Investment Management LLC lifted its stake in Shopify by 1.1% during the fourth quarter. WCM Investment Management LLC now owns 2,054,558 shares of the software maker’s stock worth $2,829,928,000 after purchasing an additional 22,408 shares during the last quarter. Finally, Sands Capital Management LLC lifted its stake in Shopify by 1.5% during the third quarter. Sands Capital Management LLC now owns 1,347,329 shares of the software maker’s stock worth $1,826,682,000 after purchasing an additional 20,076 shares during the last quarter. 60.37% of the stock is owned by institutional investors.

Shopify Company Profile (Get Rating)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.

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