Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) was downgraded by Rothschild & Co Redburn from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Several other brokerages have also issued reports on SHOP. Morgan Stanley lowered shares of Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. Susquehanna started coverage on shares of Shopify in a research note on Friday, July 10th. They set a “neutral” rating for the company. Canaccord Genuity Group decreased their price objective on Shopify from $165.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Bank of America began coverage on Shopify in a research report on Tuesday, July 7th. They issued a “buy” rating and a $150.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.86.
Check Out Our Latest Stock Report on Shopify
Shopify Trading Down 1.2%
Institutional Trading of Shopify
A number of large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Shopify in the 4th quarter valued at about $2,611,797,000. Sands Capital Management LLC raised its holdings in shares of Shopify by 37.0% in the 4th quarter. Sands Capital Management LLC now owns 9,506,036 shares of the software maker’s stock valued at $1,530,187,000 after purchasing an additional 2,568,765 shares during the period. Invesco Ltd. raised its holdings in shares of Shopify by 9.8% in the 4th quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Shopify by 7,207.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,148,259 shares of the software maker’s stock valued at $184,883,000 after purchasing an additional 1,132,545 shares during the period. Finally, Select Equity Group L.P. lifted its stake in Shopify by 92.5% in the 2nd quarter. Select Equity Group L.P. now owns 2,246,473 shares of the software maker’s stock valued at $259,124,000 after purchasing an additional 1,079,494 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.
Trending Headlines about Shopify
Here are the key news stories impacting Shopify this week:
- Positive Sentiment: Shopify expanded its commerce ecosystem with a new native integration with DoorDash, allowing U.S. brick-and-mortar merchants to sell in-store products on the DoorDash marketplace with synced inventory and streamlined setup. This could support merchant adoption and deepen Shopify’s omnichannel offering. Shopify (SHOP) Opens DoorDash To US Retailers With Direct Selling Integration
- Positive Sentiment: National Bank Financial raised its price target on Shopify to $155 and reiterated an outperform view, signaling continued analyst confidence in the company’s growth outlook. Analyst rating update
- Positive Sentiment: Unusually heavy call-option buying suggests some traders are positioning for further upside in SHOP ahead of potential catalysts. Options activity report
- Positive Sentiment: Morgan Stanley said sentiment on software stocks has become “too negative,” implying Shopify could rebound if investors rotate back into high-quality software names. Morgan Stanley software stock commentary
- Neutral Sentiment: Shopify remains one of Zacks’ most watched stocks and was highlighted as a long-term idea, but these pieces are mostly visibility/attention items rather than fresh fundamental news. Shopify is Attracting Investor Attention Why Shopify is a Top Stock for the Long-Term
- Negative Sentiment: The stock traded lower in the latest session, reflecting ongoing pressure even as the broader market moved higher. Shopify Stock Sinks As Market Gains
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.
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