Shopify (NASDAQ:SHOP) Upgraded to “Hold” at DZ Bank

DZ Bank upgraded shares of Shopify (NASDAQ:SHOP) (TSE:SHOP) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group boosted their price target on Shopify from $120.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Truist Financial set a $155.00 target price on shares of Shopify and gave the stock a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Shopify from $179.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen restated a “hold” rating and set a $156.00 target price on shares of Shopify in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twenty-three have given a Hold rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.89.

Shopify Stock Down 2.3%

Shares of Shopify stock traded down $3.64 during midday trading on Thursday, hitting $152.41. The company’s stock had a trading volume of 11,318,227 shares, compared to its average volume of 9,177,669. Shopify has a 1-year low of $69.84 and a 1-year high of $182.19. The firm has a market capitalization of $198.08 billion, a P/E ratio of 112.90, a PEG ratio of 5.85 and a beta of 2.73. The stock has a 50-day simple moving average of $155.59 and a 200-day simple moving average of $129.97.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a net margin of 16.65% and a return on equity of 11.72%. Shopify has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Shopify will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiera Capital Corp boosted its holdings in Shopify by 9.4% during the third quarter. Fiera Capital Corp now owns 5,636 shares of the software maker’s stock valued at $837,000 after purchasing an additional 486 shares in the last quarter. Synovus Financial Corp grew its position in Shopify by 10.9% in the third quarter. Synovus Financial Corp now owns 3,606 shares of the software maker’s stock valued at $536,000 after acquiring an additional 353 shares during the period. NewEdge Wealth LLC raised its stake in Shopify by 7.6% during the third quarter. NewEdge Wealth LLC now owns 53,549 shares of the software maker’s stock worth $8,724,000 after acquiring an additional 3,789 shares in the last quarter. Bornite Capital Management LP bought a new position in shares of Shopify during the third quarter valued at $14,861,000. Finally, Syon Capital LLC boosted its stake in shares of Shopify by 8.8% in the 3rd quarter. Syon Capital LLC now owns 7,740 shares of the software maker’s stock valued at $1,150,000 after purchasing an additional 625 shares in the last quarter. Institutional investors own 69.27% of the company’s stock.

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.