Shopify (NYSE:SHOP) Cut to Sell at DZ Bank

DZ Bank cut shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, MarketBeat reports.

Several other equities analysts have also weighed in on the stock. Roth Mkm raised their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price target on shares of Shopify in a report on Monday, October 7th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Canaccord Genuity Group increased their target price on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Argus raised Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Up 0.5 %

SHOP opened at $106.96 on Thursday. The company has a market capitalization of $138.02 billion, a PE ratio of 99.96, a price-to-earnings-growth ratio of 2.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The business has a 50-day moving average of $85.50 and a 200-day moving average of $72.12.

Hedge Funds Weigh In On Shopify

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new stake in shares of Shopify in the 2nd quarter worth about $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth about $33,000. Brooklyn Investment Group bought a new position in Shopify during the 3rd quarter valued at about $33,000. Finally, Rosenberg Matthew Hamilton boosted its position in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. 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.