Shopify (NYSE:SHOP) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) in a report published on Thursday. The brokerage issued a sell rating on the software maker’s stock.

A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Shopify from $36.00 to $40.00 and gave the stock a neutral rating in a research note on Thursday, February 16th. Scotiabank initiated coverage on shares of Shopify in a research note on Tuesday, January 31st. They issued a sector perform rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Shopify from $50.00 to $55.00 in a research note on Thursday, February 16th. UBS Group initiated coverage on shares of Shopify in a research note on Thursday, December 8th. They issued a sell rating and a $30.00 target price for the company. Finally, Capital One Financial initiated coverage on shares of Shopify in a research note on Thursday, December 8th. They issued an equal weight rating for the company. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $47.38.

Shopify Trading Up 0.0 %

SHOP opened at $44.68 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 7.07 and a quick ratio of 7.07. The company has a market cap of $56.42 billion, a price-to-earnings ratio of -16.37 and a beta of 2.04. The firm has a 50 day simple moving average of $44.17 and a 200 day simple moving average of $37.20. Shopify has a fifty-two week low of $23.63 and a fifty-two week high of $78.00.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, February 15th. The software maker reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.64 billion. Shopify had a negative net margin of 61.79% and a negative return on equity of 5.62%. On average, sell-side analysts anticipate that Shopify will post -0.48 earnings per share for the current year.

Institutional Trading of Shopify

A number of large investors have recently added to or reduced their stakes in the company. Vident Investment Advisory LLC lifted its stake in Shopify by 5.3% in the first quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker’s stock valued at $447,000 after acquiring an additional 33 shares during the last quarter. Interchange Capital Partners LLC lifted its stake in Shopify by 7.1% in the first quarter. Interchange Capital Partners LLC now owns 511 shares of the software maker’s stock valued at $345,000 after acquiring an additional 34 shares during the last quarter. Ancora Advisors LLC lifted its stake in Shopify by 6.2% in the first quarter. Ancora Advisors LLC now owns 1,177 shares of the software maker’s stock valued at $1,302,000 after acquiring an additional 69 shares during the last quarter. SVB Wealth LLC lifted its stake in Shopify by 14.0% in the first quarter. SVB Wealth LLC now owns 659 shares of the software maker’s stock valued at $445,000 after acquiring an additional 81 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its stake in Shopify by 292.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock valued at $74,000 after acquiring an additional 82 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

About Shopify

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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.