Shopify (NYSE:SHOP) PT Lowered to $40.00 at Morgan Stanley

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) had its price objective trimmed by Morgan Stanley from $44.00 to $40.00 in a research note published on Tuesday morning, The Fly reports. The brokerage currently has an equal weight rating on the software maker’s stock.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Shopify from $43.00 to $38.00 and set an overweight rating for the company in a research report on Thursday, September 8th. Jefferies Financial Group reduced their target price on shares of Shopify from $47.50 to $40.00 in a research report on Wednesday, July 27th. Citigroup reduced their target price on shares of Shopify from $43.20 to $37.00 in a research report on Tuesday, July 26th. StockNews.com upgraded shares of Shopify to a sell rating in a research report on Thursday, June 30th. Finally, TheStreet cut shares of Shopify from a c rating to a d+ rating in a research report on Tuesday, May 24th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $72.18.

Shopify Stock Performance

Shares of NYSE SHOP opened at $28.57 on Tuesday. The company’s fifty day moving average price is $34.85 and its 200 day moving average price is $44.47. Shopify has a 1 year low of $28.32 and a 1 year high of $176.29. The company has a market capitalization of $35.97 billion, a PE ratio of -18.86 and a beta of 1.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.17 and a current ratio of 11.17.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, July 27th. The software maker reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). Shopify had a negative return on equity of 1.61% and a negative net margin of 38.01%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.33 billion. On average, research analysts predict that Shopify will post -0.45 earnings per share for the current year.

Institutional Trading of Shopify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its holdings in Shopify by 4.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 42,174 shares of the software maker’s stock worth $29,566,000 after purchasing an additional 1,951 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Shopify during the first quarter worth approximately $1,162,000. M Holdings Securities Inc. acquired a new stake in Shopify during the first quarter worth approximately $3,862,000. American Trust acquired a new stake in Shopify during the first quarter worth approximately $1,710,000. Finally, Privium Fund Management B.V. raised its holdings in Shopify by 47.5% during the first quarter. Privium Fund Management B.V. now owns 46,600 shares of the software maker’s stock worth $31,500,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Shopify Company Profile

(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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