UBS Group reaffirmed their underperform rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note issued to investors on Thursday, The Fly reports. UBS Group currently has a $450.00 price objective on the software maker’s stock. The analysts noted that the move was a valuation call.
Several other brokerages also recently issued reports on SHOP. KeyCorp lifted their price objective on Shopify from $385.00 to $485.00 and gave the company an overweight rating in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on Shopify from $400.00 to $650.00 and gave the company an outperform rating in a research report on Wednesday. Roth Capital lifted their price objective on Shopify from $330.00 to $390.00 and gave the company a neutral rating in a research report on Wednesday, January 22nd. Zacks Investment Research upgraded Shopify from a hold rating to a buy rating and set a $495.00 price objective for the company in a research report on Wednesday, January 22nd. Finally, Credit Suisse Group downgraded Shopify from an outperform rating to a neutral rating and lifted their price objective for the company from $450.00 to $575.00 in a research report on Wednesday. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company. Shopify presently has an average rating of Hold and a consensus price target of $460.46.
SHOP traded down $1.75 during trading on Thursday, hitting $531.22. The company’s stock had a trading volume of 2,206,751 shares, compared to its average volume of 2,173,423. The firm’s 50 day moving average price is $449.15 and its two-hundred day moving average price is $368.66. The company has a quick ratio of 11.21, a current ratio of 11.21 and a debt-to-equity ratio of 0.04. Shopify has a 12 month low of $173.71 and a 12 month high of $593.89. The stock has a market capitalization of $56.71 billion, a price-to-earnings ratio of -470.11 and a beta of 1.19.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, 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, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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