DZ Bank Downgrades Shopify (NYSE:SHOP) to Hold


Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) was downgraded by equities research analysts at DZ Bank from a “buy” rating to a “hold” rating in a report issued on Wednesday, The Fly reports.

SHOP has been the topic of various other research reports. Truist Financial decreased their price goal on shares of Shopify to $35.00 and set a “hold” rating for the corporate in a report on Tuesday, July fifth. KeyCorp decreased their price goal on shares of Shopify from $65.00 to $50.00 and set an “overweight” rating for the corporate in a report on Thursday, July seventh. Piper Sandler cut shares of Shopify from an “overweight” rating to a “neutral” rating and decreased their price goal for the stock from $38.00 to $32.00 in a report on Thursday, July twenty eighth. Deutsche Bank Aktiengesellschaft reduced their goal price on shares of Shopify from $90.00 to $55.00 in a report on Monday, May 2nd. Finally, Wedbush reduced their goal price on shares of Shopify from $63.00 to $53.80 in a report on Monday, May ninth. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nineteen have issued a buy rating to the corporate’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a median goal price of $72.49.

Shopify Trading Down 0.5 %

NYSE SHOP opened at $40.42 on Wednesday. The corporate has a fifty day easy moving average of $41.48 and a two-hundred day easy moving average of $54.06. The stock has a market cap of $50.89 billion, a P/E ratio of -26.68 and a beta of 1.80. Shopify has a 12-month low of $29.72 and a 12-month high of $176.29. The corporate has a current ratio of 11.17, a fast ratio of 11.17 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Shopify

Institutional investors and hedge funds have recently bought and sold shares of the business. Inverness Counsel LLC NY boosted its holdings in Shopify by 4.5% within the 4th quarter. Inverness Counsel LLC NY now owns 276 shares of the software maker’s stock valued at $380,000 after purchasing an extra 12 shares throughout the last quarter. Kesler Norman & Wride LLC boosted its holdings in Shopify by 4.0% within the 4th quarter. Kesler Norman & Wride LLC now owns 340 shares of the software maker’s stock valued at $468,000 after purchasing an extra 13 shares throughout the last quarter. Montag A & Associates Inc. boosted its holdings in Shopify by 0.8% within the 4th quarter. Montag A & Associates Inc. now owns 1,660 shares of the software maker’s stock valued at $2,286,000 after purchasing an extra 13 shares throughout the last quarter. Sculati Wealth Management LLC boosted its holdings in Shopify by 2.3% within the 4th quarter. Sculati Wealth Management LLC now owns 614 shares of the software maker’s stock valued at $846,000 after purchasing an extra 14 shares throughout the last quarter. Finally, Farmers Trust Co. boosted its holdings in Shopify by 2.1% in the first quarter. Farmers Trust Co. now owns 735 shares of the software maker’s stock valued at $497,000 after purchasing an extra 15 shares throughout the last quarter. 62.60% of the stock is currently owned by institutional investors and hedge funds.

About Shopify

(Get Rating)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the USA, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The corporate’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 administer products and inventory, process orders and payments, fulfill and ship orders, latest buyers and construct customer relationships, source products, leverage analytics and reporting, manage money, payments and transactions, and access financing.

Featured Articles

The Fly logo

Analyst Recommendations for Shopify (NYSE:SHOP)



Receive News & Rankings for Shopify Day by day – Enter your email address below to receive a concise every day summary of the newest news and analysts’ rankings for Shopify and related corporations with MarketBeat.com’s FREE every day email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *