Shopify (NYSE:SHOP) Stock Price Down 0.5%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) shares were down 0.5% during trading on Wednesday . The stock traded as low as $77.63 and last traded at $78.12. Approximately 1,191,440 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 9,843,683 shares. The stock had previously closed at $78.53.

Analyst Ratings Changes

SHOP has been the subject of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Shopify in a report on Monday, December 18th. Mizuho boosted their price objective on shares of Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. TD Securities raised their target price on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, December 6th. Stifel Nicolaus upped their price target on shares of Shopify from $65.00 to $75.00 in a report on Wednesday, December 6th. Finally, Roth Capital raised their price objective on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Shopify currently has an average rating of “Hold” and an average price target of $76.42.

Shopify Trading Down 1.9 %

The company’s 50 day simple moving average is $79.33 and its two-hundred day simple moving average is $70.04. The company has a market capitalization of $99.27 billion, a price-to-earnings ratio of 857.43 and a beta of 2.22. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, research analysts anticipate that Shopify Inc. will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

Hedge funds have recently modified their holdings of the stock. Snowden Capital Advisors LLC raised its holdings in shares of Shopify by 7.8% in the second quarter. Snowden Capital Advisors LLC now owns 30,211 shares of the software maker’s stock worth $1,952,000 after buying an additional 2,180 shares during the last quarter. Advisor Resource Council purchased a new position in shares of Shopify in the fourth quarter worth about $1,488,000. IFP Advisors Inc lifted its holdings in shares of Shopify by 244.8% during the fourth quarter. IFP Advisors Inc now owns 28,384 shares of the software maker’s stock worth $2,211,000 after purchasing an additional 20,152 shares during the period. Angeles Investment Advisors LLC purchased a new stake in Shopify in the third quarter valued at approximately $427,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Shopify in the 3rd quarter worth approximately $15,170,000. 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.