Shopify (NYSE:SHOP) Stock Price Down 5.9%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s stock price fell 5.9% during mid-day trading on Tuesday . The stock traded as low as $1,205.44 and last traded at $1,300.24. 3,444,560 shares changed hands during mid-day trading, an increase of 158% from the average session volume of 1,332,682 shares. The stock had previously closed at $1,381.30.

SHOP has been the topic of several research reports. Credit Suisse Group upped their target price on Shopify from $1,100.00 to $1,350.00 and gave the company a “neutral” rating in a report on Thursday, February 18th. Cleveland Research initiated coverage on Shopify in a report on Friday, December 4th. They issued a “buy” rating and a $1,206.00 target price on the stock. Morgan Stanley upped their target price on Shopify from $1,100.00 to $1,300.00 and gave the company an “equal weight” rating in a report on Thursday, February 18th. They noted that the move was a valuation call. Barclays upped their target price on Shopify from $1,060.00 to $1,300.00 and gave the company an “equal weight” rating in a report on Thursday, February 18th. Finally, KeyCorp upped their target price on Shopify from $1,350.00 to $1,650.00 and gave the company an “overweight” rating in a report on Wednesday, February 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1,288.67.

The firm has a market capitalization of $158.51 billion, a PE ratio of 833.26, a P/E/G ratio of 37.63 and a beta of 1.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 17.87 and a current ratio of 17.87. The firm has a fifty day moving average of $1,250.18 and a 200 day moving average of $1,083.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, February 17th. The software maker reported $1.58 EPS for the quarter, beating the consensus estimate of $0.56 by $1.02. The business had revenue of $977.74 million for the quarter, compared to the consensus estimate of $906.82 million. Shopify had a return on equity of 2.35% and a net margin of 7.99%. Research analysts forecast that Shopify Inc. will post 1.49 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of SHOP. Independence Bank of Kentucky purchased a new stake in Shopify during the 4th quarter worth approximately $31,000. MCF Advisors LLC purchased a new stake in Shopify during the 4th quarter worth approximately $34,000. Moser Wealth Advisors LLC purchased a new stake in Shopify during the 3rd quarter worth approximately $37,000. Kistler Tiffany Companies LLC increased its holdings in Shopify by 175.0% during the 4th quarter. Kistler Tiffany Companies LLC now owns 33 shares of the software maker’s stock worth $37,000 after purchasing an additional 21 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in Shopify by 117.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 37 shares of the software maker’s stock worth $39,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 56.89% of the company’s stock.

Shopify Company Profile (NYSE:SHOP)

Shopify Inc, a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.

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