Shopify (NASDAQ:SHOP) Stock Price Down 4.9% – What’s Next?

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP)’s stock price dropped 4.9% on Monday . The stock traded as low as $145.11 and last traded at $145.39. Approximately 732,921 shares were traded during mid-day trading, a decline of 93% from the average session volume of 10,448,936 shares. The stock had previously closed at $152.90.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SHOP shares. Seaport Research Partners reaffirmed a “buy” rating and issued a $175.00 price target on shares of Shopify in a research note on Monday, August 17th. BMO Capital Markets set a $165.00 price objective on Shopify and gave the stock an “outperform” rating in a report on Thursday, August 6th. Rosenblatt Securities initiated coverage on shares of Shopify in a research note on Thursday, August 20th. They set a “buy” rating and a $175.00 target price for the company. Wedbush increased their price objective on shares of Shopify from $155.00 to $176.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, DZ Bank downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $170.84.

Shopify Stock Down 4.0%

The stock has a market capitalization of $188.87 billion, a P/E ratio of 99.18, a P/E/G ratio of 3.12 and a beta of 2.58. The business has a 50-day moving average price of $130.97 and a 200 day moving average price of $121.79. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The firm had revenue of $3.58 billion for the quarter. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. On average, equities analysts expect that Shopify Inc. will post 1.45 EPS for the current fiscal year.

Institutional Trading of Shopify

Institutional investors have recently added to or reduced their stakes in the company. Kingdom Financial Group LLC. bought a new stake in shares of Shopify during the 4th quarter worth approximately $26,000. Curio Wealth LLC purchased a new stake in Shopify in the fourth quarter worth about $27,000. Evolution Wealth Management Inc. boosted its stake in shares of Shopify by 203.9% during the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Graney & King LLC bought a new stake in Shopify during the 1st quarter valued at $27,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Shopify during the fourth quarter valued at about $31,000. Institutional investors own 69.27% of the company’s stock.

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.