Shopify (NYSE:SHOP) Downgraded to Sell Rating by DZ Bank

by · The Markets Daily

DZ Bank lowered shares of Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) from a hold rating to a sell rating in a research note released on Thursday morning, Marketbeat.com reports.

Several other research firms have also issued reports on SHOP. Oppenheimer increased their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group increased their price target on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI increased their price target on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $94.95.

View Our Latest Stock Report on Shopify

Shopify Trading Up 0.2 %

Shares of SHOP stock opened at $106.72 on Thursday. Shopify has a 52-week low of $48.56 and a 52-week high of $115.62. The stock has a market cap of $137.71 billion, a price-to-earnings ratio of 99.56, a P/E/G ratio of 3.09 and a beta of 2.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm has a fifty day moving average of $84.81 and a 200-day moving average of $71.95.

Institutional Investors Weigh In On Shopify

Several institutional investors have recently added to or reduced their stakes in the stock. Oliver Lagore Vanvalin Investment Group increased its stake in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Shopify in the 3rd quarter valued at $33,000. Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in Shopify in the 2nd quarter valued at $33,000. Finally, Hazlett Burt & Watson Inc. acquired a new stake in Shopify in the 2nd quarter valued at $33,000. 69.27% of the stock is owned by institutional investors.

Shopify Company Profile

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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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