Research Analysts’ Recent Ratings Updates for Shopify (SHOP)

Shopify (NYSE: SHOP) recently received a number of ratings updates from brokerages and research firms:

  • 5/24/2022 – Shopify was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating.
  • 5/23/2022 – Shopify had its price target lowered by analysts at Jefferies Financial Group Inc. from $550.00 to $475.00.
  • 5/9/2022 – Shopify had its price target lowered by analysts at Wedbush from $630.00 to $538.00.
  • 5/6/2022 – Shopify had its price target lowered by analysts at National Bankshares, Inc. from $1,000.00 to $750.00. They now have an “outperform” rating on the stock.
  • 5/6/2022 – Shopify had its price target lowered by analysts at Royal Bank of Canada from $1,000.00 to $800.00. They now have an “outperform” rating on the stock.
  • 5/6/2022 – Shopify had its price target lowered by analysts at TD Securities from $840.00 to $500.00. They now have a “hold” rating on the stock.
  • 5/6/2022 – Shopify had its price target lowered by analysts at Robert W. Baird from $1,000.00 to $630.00.
  • 5/6/2022 – Shopify had its price target lowered by analysts at Mizuho from $800.00 to $400.00.
  • 5/6/2022 – Shopify had its price target lowered by analysts at Citigroup Inc. from $534.00 to $432.00.
  • 5/5/2022 – Shopify was downgraded by analysts at Veritas Investment Research from a “buy” rating to a “sell” rating.
  • 5/5/2022 – Shopify had its price target lowered by analysts at Jefferies Financial Group Inc. from $1,350.00 to $550.00.
  • 5/5/2022 – Shopify had its price target lowered by analysts at Oppenheimer Holdings Inc. from $960.00 to $500.00.
  • 5/3/2022 – Shopify had its price target lowered by analysts at Loop Capital from $660.00 to $460.00.
  • 5/3/2022 – Shopify had its price target lowered by analysts at Wedbush from $937.00 to $630.00.
  • 5/2/2022 – Shopify had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $900.00 to $550.00.
  • 5/2/2022 – Shopify had its price target lowered by analysts at KeyCorp from $1,000.00 to $650.00.
  • 4/25/2022 – Shopify had its price target lowered by analysts at Royal Bank of Canada from $1,300.00 to $1,000.00. They now have an “outperform” rating on the stock.
  • 4/25/2022 – Shopify had its price target lowered by analysts at Stifel Nicolaus from $1,000.00 to $800.00.
  • 4/21/2022 – Shopify was upgraded by analysts at StockNews.com to a “sell” rating.
  • 4/21/2022 – Shopify had its price target lowered by analysts at Roth Capital from $850.00 to $625.00.
  • 4/19/2022 – Shopify had its price target lowered by analysts at Piper Sandler from $900.00 to $800.00. They now have an “overweight” rating on the stock.
  • 4/13/2022 – Shopify is now covered by analysts at Benchmark Co.. They set a “hold” rating on the stock.
  • 4/4/2022 – Shopify is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $834.00 price target on the stock.
  • 3/31/2022 – Shopify is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.

Shopify stock traded up $17.72 during midday trading on Friday, reaching $369.04. 3,107,758 shares of the stock traded hands, compared to its average volume of 3,557,094. The stock’s fifty day moving average is $522.03 and its 200-day moving average is $905.80. Shopify Inc. has a 12 month low of $308.06 and a 12 month high of $1,762.92. The stock has a market cap of $46.46 billion, a P/E ratio of 295.23 and a beta of 1.82. The company has a quick ratio of 11.84, a current ratio of 11.84 and a debt-to-equity ratio of 0.12.

Shopify shares 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 issued to shareholders after the market closes on Tuesday, June 28th.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last issued its quarterly earnings data on Thursday, May 5th. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.59. Shopify had a return on equity of 1.94% and a net margin of 3.77%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business posted $1.32 earnings per share. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts predict that Shopify Inc. will post -2.05 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of Shopify by 1.4% in the fourth quarter. Jennison Associates LLC now owns 4,696,965 shares of the software maker’s stock worth $6,469,553,000 after buying an additional 65,144 shares during the period. Capital World Investors raised its holdings in shares of Shopify by 2.0% in the fourth quarter. Capital World Investors now owns 4,489,765 shares of the software maker’s stock worth $6,184,252,000 after buying an additional 90,070 shares during the period. Vanguard Group Inc. raised its holdings in shares of Shopify by 3.3% in the first quarter. Vanguard Group Inc. now owns 3,648,146 shares of the software maker’s stock worth $2,466,000,000 after buying an additional 115,860 shares during the period. Capital Research Global Investors grew its stake in Shopify by 43.0% in the first quarter. Capital Research Global Investors now owns 3,012,007 shares of the software maker’s stock worth $2,036,179,000 after purchasing an additional 906,250 shares in the last quarter. Finally, Sands Capital Management LLC grew its stake in Shopify by 51.7% in the first quarter. Sands Capital Management LLC now owns 2,127,581 shares of the software maker’s stock worth $1,438,160,000 after purchasing an additional 724,767 shares in the last quarter. Hedge funds and other institutional investors own 62.60% of the company’s stock.

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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