Shopify (NYSE:SHOP) Stock Rating Lowered by BNP Paribas

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by research analysts at BNP Paribas from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on SHOP. The Goldman Sachs Group reduced their price target on shares of Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Citigroup upped their target price on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. BNP Paribas Exane lowered Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Monday. Scotiabank decreased their price objective on Shopify from $120.00 to $90.00 and set a “sector perform” rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company raised their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $116.00.

Shopify Price Performance

Shopify stock opened at $93.83 on Monday. The stock has a market cap of $121.49 billion, a PE ratio of 60.54, a P/E/G ratio of 4.82 and a beta of 2.66. The stock’s fifty day moving average is $94.07 and its two-hundred day moving average is $102.63. Shopify has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted 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 return on equity of 12.00% and a net margin of 22.74%. On average, research analysts expect that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several hedge funds have recently made changes to their positions in SHOP. Allianz SE acquired a new stake in Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC boosted its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Shopify in the fourth quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC increased its position in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Shopify during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds 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.