Shopify (NYSE:SHOP) Cut to “Neutral” at BNP Paribas Exane

by · The Cerbat Gem

BNP Paribas Exane lowered shares of Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) from an outperform rating to a neutral rating in a research report report published on Monday, Marketbeat.com reports. They currently have $100.00 price target on the software maker’s stock.

Several other research analysts also recently commented on SHOP. TD Securities increased their price objective on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Phillip Securities lowered Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Royal Bank of Canada reduced their price objective on Shopify from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. ATB Capital increased 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. Finally, Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.00.

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Shopify Stock Up 0.7 %

Shares of Shopify stock opened at $94.50 on Monday. The company has a market capitalization of $122.36 billion, a price-to-earnings ratio of 60.97, a PEG ratio of 4.82 and a beta of 2.66. The stock’s 50-day simple moving average is $93.73 and its 200-day simple moving average is $102.58. Shopify has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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%. On average, equities analysts expect that Shopify will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several hedge funds have recently bought and sold shares of SHOP. N.E.W. Advisory Services LLC purchased a new position in shares of Shopify during the 1st quarter valued at approximately $49,000. Kirtland Hills Capital Management LLC increased its holdings in Shopify by 73.6% in the first quarter. Kirtland Hills Capital Management LLC now owns 7,229 shares of the software maker’s stock valued at $690,000 after buying an additional 3,065 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Shopify in the first quarter worth about $68,000. SLT Holdings LLC boosted its stake in shares of Shopify by 3.3% during the 1st quarter. SLT Holdings LLC now owns 5,550 shares of the software maker’s stock worth $530,000 after acquiring an additional 175 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Shopify during the 1st quarter valued at about $730,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

About Shopify

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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.

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