Shopify (NASDAQ:SHOP) Stock Price Down 2.3% – What’s Next?

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP)’s stock price fell 2.3% on Friday . The stock traded as low as $146.88 and last traded at $152.41. 10,071,170 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 9,707,524 shares. The stock had previously closed at $156.05.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SHOP shares. Robert W. Baird raised their target price on shares of Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. JMP Securities lifted their price objective on Shopify from $135.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday, August 7th. BMO Capital Markets increased their target price on Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group restated a “neutral” rating and issued a $165.00 target price (up previously from $145.00) on shares of Shopify in a research note on Wednesday. Finally, Loop Capital lowered Shopify from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and twenty-three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.89.

Shopify Stock Performance

The stock has a market capitalization of $198.08 billion, a P/E ratio of 112.90, a PEG ratio of 5.71 and a beta of 2.73. The business has a 50-day moving average price of $155.59 and a 200 day moving average price of $130.28.

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

Hedge Funds Weigh In On Shopify

A number of hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Shopify by 4.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,231,257 shares of the software maker’s stock valued at $603,425,000 after buying an additional 218,829 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Shopify by 171.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 423,295 shares of the software maker’s stock worth $48,827,000 after acquiring an additional 267,271 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Shopify by 9.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,389 shares of the software maker’s stock valued at $46,185,000 after acquiring an additional 35,113 shares during the period. ARK Investment Management LLC grew its position in Shopify by 13.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,049,508 shares of the software maker’s stock valued at $582,461,000 after acquiring an additional 605,283 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake in Shopify by 32.6% in the second quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker’s stock worth $1,570,000 after purchasing an additional 3,347 shares during the period. 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.