Shopify (NYSE:SHOP) Price Target Lowered to $63.00 at Barclays

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective cut by Barclays from $68.00 to $63.00 in a research note published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

A number of other brokerages also recently commented on SHOP. Deutsche Bank Aktiengesellschaft cut their price objective on Shopify from $95.00 to $80.00 and set a buy rating for the company in a research report on Thursday. CIBC raised their price target on Shopify from $82.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Wells Fargo & Company dropped their price objective on Shopify from $85.00 to $75.00 and set an overweight rating on the stock in a report on Thursday. UBS Group lifted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Finally, Benchmark restated a hold rating on shares of Shopify in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $76.86.

Shopify Stock Performance

NYSE:SHOP traded down $3.51 during mid-day trading on Thursday, hitting $58.94. The stock had a trading volume of 30,675,580 shares, compared to its average volume of 11,390,690. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a current ratio of 7.14, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $75.83 billion, a price-to-earnings ratio of -346.82 and a beta of 2.20. The company has a 50 day simple moving average of $74.20 and a 200-day simple moving average of $73.63.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. On average, research analysts expect that Shopify will post 0.59 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of institutional investors have recently modified their holdings of SHOP. Wealth Management Partners LLC boosted its holdings in shares of Shopify by 0.9% in the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after buying an additional 126 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares during the last quarter. Tradition Wealth Management LLC increased its position in Shopify by 7.5% during the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Pachira Investments Inc. raised its stake in Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after buying an additional 146 shares during the period. Finally, Baldwin Brothers LLC MA boosted its stake in shares of Shopify by 49.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the period. 69.27% of the stock is currently owned by institutional investors.

About Shopify

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.