Shopify (NYSE:SHOP) Shares Down 2% – Time to Sell?

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) traded down 2% on Thursday . The stock traded as low as $99.73 and last traded at $102.21. 2,997,948 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 8,602,015 shares. The stock had previously closed at $104.28.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SHOP shares. Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 17th. The Goldman Sachs Group raised their price target on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and set a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. DA Davidson raised their target price on shares of Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, New Street Research began coverage on shares of Shopify in a research note on Friday, January 10th. They set a “neutral” rating and a $115.00 target price for the company. One investment analyst has rated the stock with a sell rating, fifteen have given 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 stock presently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Down 5.9 %

The stock has a market capitalization of $124.96 billion, a PE ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The business’s fifty day moving average is $110.21 and its two-hundred day moving average is $100.55.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of Shopify

Institutional investors have recently bought and sold shares of the stock. Allianz SE purchased a new position in shares of Shopify during the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC lifted its stake 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 acquiring an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Shopify during the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC grew its position in 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 acquiring an additional 100 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Shopify in the third quarter worth $33,000. 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.