Shopify (NYSE:SHOP) Cut to Sell at DZ Bank

DZ Bank lowered shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a hold rating to a sell rating in a research note released on Thursday morning, MarketBeat reports.

Several other analysts also recently issued reports on SHOP. Mizuho raised their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. JMP Securities raised their target price on Shopify from $80.00 to $120.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Robert W. Baird upped their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. KeyCorp lifted their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Citigroup upped their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Price Performance

SHOP opened at $106.96 on Thursday. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $85.50 and its 200 day moving average price is $72.12. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The firm has a market cap of $138.02 billion, a price-to-earnings ratio of 99.96, a price-to-earnings-growth ratio of 2.80 and a beta of 2.36.

Institutional Trading of Shopify

Large investors have recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group grew its holdings in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in Shopify during the 2nd quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify during the 2nd quarter valued at about $33,000. Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter valued at about $33,000. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. 69.27% of the stock is 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.