Shopify (NYSE:SHOP) Downgraded to “Moderate Buy” Rating by Phillip Securities

Phillip Securities lowered shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a strong-buy rating to a moderate buy rating in a report published on Monday,Zacks.com reports.

Several other analysts have also commented on the stock. UBS Group raised their price target on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. CIBC lifted their price target on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays upped their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Moffett Nathanson raised their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company upped their target price on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 0.7 %

Shares of SHOP stock opened at $129.20 on Monday. The stock has a market cap of $166.94 billion, a PE ratio of 83.35, a price-to-earnings-growth ratio of 5.06 and a beta of 2.47. Shopify has a 52-week low of $48.56 and a 52-week high of $129.38. The business has a 50-day simple moving average of $112.48 and a 200-day simple moving average of $94.23.

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

Institutional Trading of Shopify

Several institutional investors have recently made changes to their positions in SHOP. Baillie Gifford & Co. grew its position in Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after acquiring an additional 8,131,160 shares during the period. Capital World Investors grew its holdings in shares of Shopify by 0.9% during the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock worth $5,646,455,000 after purchasing an additional 496,982 shares during the period. Vanguard Group Inc. increased its position in shares of Shopify by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after purchasing an additional 781,162 shares during the last quarter. FMR LLC raised its holdings in Shopify by 3.4% in the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after buying an additional 1,426,000 shares during the period. Finally, Capital International Investors lifted its position in Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after buying an additional 968,026 shares during the last quarter. Hedge funds and other institutional investors 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.