Cantor Fitzgerald Lowers Shopify (NYSE:SHOP) Price Target to $80.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective trimmed by Cantor Fitzgerald from $120.00 to $80.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the software maker’s stock.

Several other research analysts also recently commented on the company. DA Davidson lowered their target price on Shopify from $150.00 to $115.00 and set a “buy” rating for the company in a research note on Monday. Mizuho cut their target price on shares of Shopify from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. Finally, Oppenheimer upped their target price on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.51.

Shopify Stock Up 0.1 %

SHOP stock opened at $83.96 on Wednesday. The company’s 50-day moving average price is $101.99 and its two-hundred day moving average price is $101.40. The firm has a market cap of $108.71 billion, a P/E ratio of 54.17, a P/E/G ratio of 4.82 and a beta of 2.82. Shopify has a 12 month low of $48.56 and a 12 month high of $129.38.

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

Institutional Trading of Shopify

Institutional investors have recently modified their holdings of the business. Allianz SE bought a new stake in Shopify during the 4th quarter valued at $27,000. PFG Private Wealth Management LLC raised 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 valued at $28,000 after purchasing an additional 256 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of Shopify during the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Shopify during the 4th quarter valued at about $39,000. 69.27% of the stock is currently owned by hedge funds and other 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.