Shopify (NYSE:SHOP) Rating Lowered to “Moderate Buy” at Phillip Securities

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by equities researchers at Phillip Securities from a “strong-buy” rating to a “moderate buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. DA Davidson raised their target price on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Citigroup lifted their price objective on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. UBS Group lifted their price objective 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. Finally, CIBC lifted their price objective on shares of Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Up 0.7 %

Shares of NYSE SHOP opened at $129.20 on Monday. The stock has a market cap of $166.94 billion, a P/E ratio of 83.35, a P/E/G ratio of 5.06 and a beta of 2.47. Shopify has a twelve month low of $48.56 and a twelve month high of $129.38. The stock has a 50 day moving average of $112.48 and a two-hundred day moving average of $94.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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 return on equity of 12.00% and a net margin of 22.74%. As a group, research analysts predict that Shopify will post 1.11 earnings per share for the current year.

Institutional Trading of Shopify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOP. Allianz SE purchased a new stake in Shopify in the 4th quarter valued at about $27,000. PFG Private Wealth Management LLC grew its holdings in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify during the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC grew its holdings in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Shopify during the 3rd quarter worth about $33,000. 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.