Shopify (NYSE:SHOP) Lowered to Neutral Rating by BNP Paribas Exane

BNP Paribas Exane lowered shares of Shopify (NYSE:SHOP) (TSE:SHOP) from an outperform rating to a neutral rating in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have $100.00 price objective on the software maker’s stock.

Several other equities analysts also recently weighed in on SHOP. Citigroup raised their target price on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. National Bankshares reduced their target price on Shopify from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. 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 for the company. Mizuho decreased their price objective on Shopify from $110.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Scotiabank cut their target price on shares of Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $117.11.

Shopify Price Performance

NYSE:SHOP opened at $98.38 on Monday. The firm has a market cap of $127.38 billion, a price-to-earnings ratio of 63.47, a price-to-earnings-growth ratio of 4.82 and a beta of 2.66. The firm’s fifty day moving average price is $94.41 and its 200 day moving average price is $102.70. Shopify has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. As a group, analysts expect that Shopify will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

A number of large investors have recently added to or reduced their stakes in the company. Synovus Financial Corp bought a new stake in Shopify during the third quarter worth about $481,000. CWA Asset Management Group LLC grew its stake in shares of Shopify by 3.6% in the fourth quarter. CWA Asset Management Group LLC now owns 4,282 shares of the software maker’s stock valued at $455,000 after buying an additional 148 shares in the last quarter. Diversified Trust Co acquired a new position in Shopify during the fourth quarter worth $279,000. One Wealth Capital Management LLC bought a new stake in Shopify during the fourth quarter worth $1,281,000. Finally, Fulton Bank N.A. acquired a new stake in Shopify in the fourth quarter valued at $286,000. Institutional investors own 69.27% of the company’s stock.

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.