Shopify (NYSE:SHOP) PT Lowered to $360.00 at Barclays

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) had its price objective cut by Barclays from $460.00 to $360.00 in a report released on Tuesday morning, The Fly reports. They currently have an equal weight rating on the software maker’s stock.

A number of other equities research analysts also recently weighed in on SHOP. Wedbush cut their target price on Shopify from $630.00 to $538.00 in a research report on Monday, May 9th. Loop Capital cut their price objective on Shopify from $660.00 to $460.00 in a research report on Tuesday, May 3rd. Wells Fargo & Company started coverage on shares of Shopify in a research note on Monday, April 4th. They set an overweight rating and a $834.00 target price on the stock. Mizuho cut their target price on shares of Shopify from $800.00 to $400.00 in a research note on Friday, May 6th. Finally, Veritas Investment Research downgraded shares of Shopify from a buy rating to a sell rating in a research note on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has a consensus rating of Hold and a consensus price target of $912.26.

SHOP opened at $363.83 on Tuesday. The company has a market capitalization of $45.81 billion, a price-to-earnings ratio of 291.06 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 11.84 and a quick ratio of 11.84. Shopify has a 1-year low of $297.64 and a 1-year high of $1,762.92. The business has a 50 day moving average price of $391.36 and a two-hundred day moving average price of $736.53.

Shares of Shopify are set to split before the market opens on Wednesday, June 29th. The 10-1 split was announced on Monday, April 11th. The newly created shares will be issued to shareholders after the closing bell on Tuesday, June 28th.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last released its earnings results on Thursday, May 5th. The software maker reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.31). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.24 billion. Shopify had a return on equity of 1.94% and a net margin of 3.77%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. Equities analysts expect that Shopify will post -4.28 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of SHOP. Cetera Advisor Networks LLC increased its position in Shopify by 12.9% during the 3rd quarter. Cetera Advisor Networks LLC now owns 4,596 shares of the software maker’s stock worth $6,231,000 after purchasing an additional 525 shares in the last quarter. D.A. Davidson & CO. increased its position in Shopify by 8.0% during the 4th quarter. D.A. Davidson & CO. now owns 5,706 shares of the software maker’s stock worth $7,863,000 after purchasing an additional 425 shares in the last quarter. National Bank of Canada FI acquired a new position in Shopify during the 4th quarter worth approximately $84,008,000. Oppenheimer Asset Management Inc. increased its position in Shopify by 1.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 2,522 shares of the software maker’s stock valued at $3,474,000 after acquiring an additional 38 shares during the period. Finally, Pacific Wealth Strategies Group Inc. increased its position in Shopify by 1.8% in the 4th quarter. Pacific Wealth Strategies Group Inc. now owns 1,675 shares of the software maker’s stock valued at $2,307,000 after acquiring an additional 30 shares during the period. 62.60% of the stock is owned by institutional investors.

About Shopify (Get Rating)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.

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