Shopify Inc. (NYSE:SHOP) Rating Lowered to Hold at Vetr Inc.

Shopify Inc. (NYSE:SHOP) (TSE:SH) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, September 12th. They presently have a $120.91 price target on the software maker’s stock. Vetr‘s price objective would indicate a potential upside of 0.53% from the company’s previous close.

SHOP has been the topic of several other reports. CSFB reiterated an “outperform” rating and set a $128.00 target price on shares of Shopify in a research report on Tuesday, May 23rd. Wedbush reiterated an “ourperform” rating on shares of Shopify in a research report on Wednesday, August 2nd. SunTrust Banks, Inc. assumed coverage on Shopify in a research report on Monday, June 26th. They set a “hold” rating and a $90.00 target price on the stock. BidaskClub downgraded Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Shopify in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $94.80.

Shares of Shopify (NYSE:SHOP) opened at 120.27 on Tuesday. Shopify has a 52 week low of $37.74 and a 52 week high of $123.94. The stock has a 50 day moving average price of $120.50 and a 200-day moving average price of $120.50. The company’s market capitalization is $11.85 billion.

Shopify (NYSE:SHOP) (TSE:SH) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The company had revenue of $151.70 million during the quarter, compared to analyst estimates of $143.94 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. Shopify’s revenue was up 75.2% compared to the same quarter last year. Equities research analysts expect that Shopify will post ($0.04) EPS for the current year.

WARNING: This story was first posted by BBNS and is the property of of BBNS. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://baseballnewssource.com/markets/shopify-inc-shop-lowered-to-hold-at-vetr-inc/1638629.html.

Several institutional investors and hedge funds have recently modified their holdings of SHOP. FNY Partners Fund LP purchased a new stake in shares of Shopify during the 1st quarter valued at $102,000. Toronto Dominion Bank lifted its holdings in shares of Shopify by 148.1% during the 1st quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after purchasing an additional 973 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Shopify during the 1st quarter valued at $116,000. Seven Bridges Advisors LLC purchased a new stake in shares of Shopify during the 2nd quarter valued at $120,000. Finally, Advisory Services Network LLC increased its position in shares of Shopify by 26.6% in the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors own 53.77% of the company’s stock.

Shopify Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Los Angeles Dodgers Waiting But Magic Number Down to One
Los Angeles Dodgers Waiting But Magic Number Down to One
Young Girl Hit by Foul Ball Rushed to Hospital
Young Girl Hit by Foul Ball Rushed to Hospital
New Home Run Record Reached in Major League Baseball
New Home Run Record Reached in Major League Baseball
Will 2017 MLB Season End with No 20-Game Winner?
Will 2017 MLB Season End with No 20-Game Winner?
Cleveland Indians Winning Streak Snapped at 22
Cleveland Indians Winning Streak Snapped at 22
Tigers Player Might Play All Nine Positions During Same Game
Tigers Player Might Play All Nine Positions During Same Game


Leave a Reply

 
© 2006-2017 BBNS.