Shopify (NYSE:SHOP) Price Target Lowered to $85.00 at Mizuho

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lowered by Mizuho from $110.00 to $85.00 in a research report report published on Monday, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other research analysts also recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. Phillip Securities cut shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. ATB Capital lifted 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. New Street Research initiated coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. Finally, Barclays upped their target price on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.51.

Shopify Trading Up 0.1 %

Shares of NYSE SHOP opened at $83.96 on Monday. The firm has a market capitalization of $108.71 billion, a P/E ratio of 54.17, a P/E/G ratio of 4.82 and a beta of 2.82. The firm’s 50-day moving average price is $101.99 and its 200-day moving average price is $101.40. Shopify has a 1-year low of $48.56 and a 1-year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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%. Equities research analysts forecast that Shopify will post 1.12 EPS for the current year.

Institutional Trading of Shopify

Several institutional investors and hedge funds have recently bought and sold shares of SHOP. Opal Wealth Advisors LLC bought a new position in shares of Shopify in the first quarter worth $96,000. Wealth Enhancement Advisory Services LLC increased its stake in Shopify by 0.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 154,273 shares of the software maker’s stock worth $14,730,000 after acquiring an additional 799 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in shares of Shopify by 2.5% in the 1st quarter. Griffin Asset Management Inc. now owns 16,325 shares of the software maker’s stock valued at $1,559,000 after acquiring an additional 400 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Shopify by 1,247.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 26,199 shares of the software maker’s stock valued at $2,501,000 after acquiring an additional 24,255 shares during the last quarter. Finally, CVA Family Office LLC grew its holdings in shares of Shopify by 24.3% during the first quarter. CVA Family Office LLC now owns 1,621 shares of the software maker’s stock worth $155,000 after purchasing an additional 317 shares in the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

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.