Shopify (NYSE:SHOP) Rating Lowered to “Moderate Buy” at Phillip Securities

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by equities researchers at Phillip Securities from a “strong-buy” rating to a “moderate buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. Royal Bank of Canada upped their price target on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Scotiabank upped their target price on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Robert W. Baird upped their target price on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler upped their target price on Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, ATB Capital upped their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Stock Up 0.7 %

NYSE SHOP opened at $129.20 on Monday. The stock has a market cap of $166.94 billion, a PE ratio of 83.35, a P/E/G ratio of 5.06 and a beta of 2.47. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The business has a 50 day moving average price of $112.48 and a two-hundred day moving average price of $94.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts anticipate that Shopify will post 1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allianz SE purchased a new stake in shares of Shopify during the 4th quarter worth about $27,000. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify during the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC raised its stake in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Shopify during the 4th quarter worth about $39,000. 69.27% of the stock is owned by hedge funds and other 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.