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Jefferies Financial Group downgrades Shopify (NYSE:SHOP) to hold


Shopify (NYSE:SHOP – Get a review) (TSE:SHOP) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note released Thursday to investors, reports The Fly.

A number of other brokerages have also recently published reports on SHOP. UBS Group launched coverage on Shopify shares in a research note on Thursday, December 8. They issued a “sell” rating and a price target of $30.00 on the stock. Royal Bank of Canada lowered its target price on Shopify from $60.00 to $55.00 and set an “outperform” rating for the company in a Friday, October 21 research report. DA Davidson raised its target price on Shopify to $34.00 in a Tuesday, November 1 research report. Morgan Stanley raised its target price on Shopify from $40.00 to $42.00 and gave the stock an “equal weight” rating in a Friday, Oct. 28 research report. Finally, CIBC upgraded Shopify from a “neutral” rating to an “sector outperformer” rating in a Tuesday, Dec. 6 research report. Three equity research analysts gave the stock a sell rating, twenty-one gave the stock a hold rating and fifteen gave the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.37.

Shopify inventory performance

Shares of SHOP opened at $37.54 on Thursday. Shopify has a 12 month minimum of $23.63 and a 12 month maximum of $122.88. The stock has a market capitalization of $47.41 billion, a PE ratio of -14.81 and a beta of 1.93. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt ratio of 0.15. The company’s fifty-day moving average price is $36.40 and its 200-day moving average price is $36.32.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last announced its results on Thursday, October 27. The software maker reported ($0.14) EPS for the quarter, beating analyst consensus estimates of ($0.24) by $0.10. Shopify had a negative net margin of 61.17% and a negative return on equity of 3.82%. The company posted revenue of $1.37 billion for the quarter, versus $1.33 billion for analysts. On average, equity analysts expect Shopify to post -0.5 EPS for the current fiscal year.

Shopify Institutional Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Shopify by 105.9% in the third quarter. Bank of New York Mellon Corp now owns 3,645,340 shares of the software maker worth $98,205,000 after buying an additional 1,875,168 shares during the period. Centaurus Financial Inc. bought a new position in Shopify stock during the third quarter worth $357,000. American Trust increased its stake in Shopify shares by 15.5% during the third quarter. American Trust now owns 29,200 shares of the software maker valued at $787,000 after buying an additional 3,910 shares during the period. Toroso Investments LLC increased its stake in Shopify shares by 13.2% during the third quarter. Toroso Investments LLC now owns 18,027 shares of the software maker valued at $486,000 after purchasing an additional 2,097 shares during the period. Finally, IHT Wealth Management LLC increased its equity stake in Shopify by 21.1% during the third quarter. IHT Wealth Management LLC now owns 8,209 shares of the software maker valued at $221,000 after purchasing an additional 1,429 shares during the period. Hedge funds and other institutional investors own 56.31% of the company’s shares.

Shopify Company Profile

(Get an evaluation)

Shopify Inc, a commerce company, provides commerce platform and services in Canada, United States, Europe, Middle East, Africa, Asia-Pacific and Latin America. The Company’s platform enables merchants to display, manage, market and sell its products through various sales channels, including web and mobile storefronts, brick-and-mortar outlets, pop-up stores, social media, native mobile apps, buy buttons and marketplaces; and helps manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reports, manage cash, payments and transactions, and access funding.

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Analyst recommendations for Shopify (NYSE: SHOP)

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