Shopify (NASDAQ:SHOP) Stock Rating Lowered by Rothschild & Co Redburn

Shopify (NASDAQ:SHOP) (TSE:SHOP) was downgraded by equities researchers at Rothschild & Co Redburn from a “buy” rating to a “hold” rating in a report released on Tuesday, MarketBeat.com reports. They presently have a $130.00 price target on the software maker’s stock. Rothschild & Co Redburn’s price objective would suggest a potential upside of 9.78% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on SHOP. DA Davidson lowered their target price on shares of Shopify from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Jefferies Financial Group raised Shopify from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $160.00 in a report on Sunday, July 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Shopify in a research note on Monday. National Bank Financial set a $155.00 price target on shares of Shopify and gave the company an “outperform” rating in a research report on Monday. Finally, Stifel Nicolaus set a $150.00 price objective on Shopify and gave the stock a “buy” rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $157.86.

Shopify Trading Down 3.7%

Shares of SHOP stock opened at $118.42 on Tuesday. The stock has a market capitalization of $153.67 billion, a P/E ratio of 117.25, a PEG ratio of 2.67 and a beta of 2.58. The firm’s 50 day moving average is $113.83 and its 200 day moving average is $122.51. Shopify has a 12 month low of $94.00 and a 12 month high of $182.19.

Hedge Funds Weigh In On Shopify

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Northside Capital Management LLC bought a new position in shares of Shopify during the 2nd quarter valued at about $781,000. Canvas Wealth Advisors LLC lifted its position in Shopify by 1.1% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 8,356 shares of the software maker’s stock worth $954,000 after buying an additional 93 shares during the last quarter. Fiduciary Financial Group LLC purchased a new stake in Shopify in the second quarter worth approximately $200,000. Doliver Advisors LP boosted its stake in Shopify by 13.3% in the second quarter. Doliver Advisors LP now owns 11,158 shares of the software maker’s stock worth $1,274,000 after buying an additional 1,310 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Shopify by 387.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,347 shares of the software maker’s stock valued at $2,209,000 after acquiring an additional 15,376 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

More Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s ecosystem gained a credibility boost after OneMagnify said it reached Shopify Premier Partner status, a top-tier designation that highlights strong technical capability and enterprise commerce expertise. OneMagnify Achieves Shopify Premier Partner Status, Powering Measurable Growth for Global Commerce Brands
• Positive Sentiment: DoorDash announced a native integration for U.S. brick-and-mortar Shopify merchants, allowing them to sell through DoorDash with synced inventory and easier onboarding, which could expand Shopify merchants’ reach and support platform adoption. Shopify (SHOP) Gains A New DoorDash Link As Its Valuation Narrative Faces A Test
• Neutral Sentiment: Shopify was highlighted in several analyst and media pieces as a closely watched software name, with Morgan Stanley saying sentiment across software stocks has become too negative. That may support the broader valuation narrative, but it is not a direct catalyst on its own. Morgan Stanley Analysts Say Sentiment Has Gotten ‘Too Negative’ on Software Stocks. These Are Their Picks
• Negative Sentiment: Rothschild & Co Redburn downgraded Shopify from buy to hold, which likely weighed on sentiment even though the new $130 price target still implies some upside from recent levels. Zacks.com downgrade coverage
• Negative Sentiment: Recent trading commentary also noted Shopify has been sinking while the broader market gained, reinforcing that investors are taking profits or reassessing the near-term valuation after a strong run. Shopify (SHOP) Stock Sinks As Market Gains: What You Should Know

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.