Cantor Fitzgerald Lowers Shopify (NYSE:SHOP) Price Target to $80.00

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP had its target price decreased by Cantor Fitzgerald from $120.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the software maker's stock. Cantor Fitzgerald's price objective points to a potential downside of 4.36% from the company's current price.

SHOP has been the subject of several other reports. Piper Sandler boosted their price target on Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Mizuho reduced their target price on shares of Shopify from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Shopify from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. UBS Group boosted their target price on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $110.00 price target on shares of Shopify in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.94.

Shopify Stock Down 0.4 %

Shares of SHOP stock traded down $0.31 during trading hours on Wednesday, hitting $83.65. 11,591,792 shares of the company's stock were exchanged, compared to its average volume of 9,231,416. The firm has a 50 day moving average of $100.46 and a two-hundred day moving average of $101.62. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market cap of $108.31 billion, a P/E ratio of 53.97, a P/E/G ratio of 4.82 and a beta of 2.82.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, equities analysts forecast that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Institutional investors have recently bought and sold shares of the business. Allianz SE purchased a new stake in Shopify during the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its position in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock worth $28,000 after buying an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify in the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC grew its position in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock valued at $32,000 after buying an additional 100 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth $39,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

About Shopify

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.