Shopify (NYSE:SHOP) Price Target Cut to $120.00 by Analysts at Loop Capital

Shopify (NYSE:SHOP - Free Report) TSE: SHOP had its target price cut by Loop Capital from $150.00 to $120.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the software maker's stock.

SHOP has been the subject of several other research reports. Phillip Securities downgraded shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. Piper Sandler boosted their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Shopify from $120.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Jefferies Financial Group increased their price objective on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a report on Tuesday, February 18th. Finally, Barclays increased their target price on shares of Shopify from $93.00 to $100.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $120.94.

Shopify Trading Down 0.4 %

Shopify stock traded down $0.31 during mid-day trading on Wednesday, hitting $83.65. The company's stock had a trading volume of 11,591,792 shares, compared to its average volume of 9,238,801. Shopify has a 1 year low of $48.56 and a 1 year high of $129.38. The firm has a market capitalization of $108.31 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The stock's fifty day moving average is $100.46 and its two-hundred day moving average is $101.46.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data 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 expect that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in Shopify in the fourth quarter valued at $132,323,000. Watts Gwilliam & Co. LLC lifted its holdings in shares of Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after acquiring an additional 4,641 shares during the period. Synovus Financial Corp acquired a new stake in shares of Shopify in the third quarter worth approximately $481,000. Western Financial Corp CA purchased a new stake in Shopify in the fourth quarter valued at approximately $239,000. Finally, Kessler Investment Group LLC acquired a new position in Shopify during the fourth quarter worth approximately $6,105,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.