Shopify (NYSE:SHOP) Shares Down 7% - Should You Sell?

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP shares fell 7% on Monday . The stock traded as low as $91.90 and last traded at $93.08. 5,321,507 shares traded hands during trading, a decline of 37% from the average session volume of 8,465,835 shares. The stock had previously closed at $100.13.

Analysts Set New Price Targets

SHOP has been the topic of a number of analyst reports. Truist Financial boosted their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. New Street Research started coverage on Shopify in a report on Friday, January 10th. They set a "neutral" rating and a $115.00 price target on the stock. UBS Group increased their price objective on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Loop Capital raised Shopify from a "hold" rating to a "buy" rating and boosted their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, Morgan Stanley raised their price target on Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.31.

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Shopify Trading Down 5.7 %

The firm has a market cap of $117.88 billion, a P/E ratio of 58.82, a PEG ratio of 4.82 and a beta of 2.60. The company's 50 day simple moving average is $111.51 and its 200-day simple moving average is $98.34.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 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, sell-side analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Institutional Trading of Shopify

Several institutional investors and hedge funds have recently modified their holdings of the company. Capital World Investors lifted its position in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock valued at $5,646,455,000 after acquiring an additional 496,982 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC lifted its holdings in Shopify by 3.4% in the 4th quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Capital International Investors boosted its stake in Shopify by 2.7% in the 4th quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after purchasing an additional 968,026 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after buying an additional 7,316,862 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

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.