UBS Group Has Lowered Expectations for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price dropped by equities researchers at UBS Group from $125.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. UBS Group’s target price indicates a potential upside of 19.86% from the company’s previous close.

SHOP has been the topic of several other reports. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of Shopify in a research report on Tuesday, April 15th. Benchmark dropped their price objective on Shopify from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. CIBC lifted their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 17th. Finally, BNP Paribas Exane cut shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective on the stock. in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $115.37.

Shopify Stock Performance

NYSE:SHOP opened at $91.77 on Friday. The stock has a 50-day simple moving average of $93.29 and a two-hundred day simple moving average of $102.89. The firm has a market capitalization of $118.83 billion, a PE ratio of 59.21, a P/E/G ratio of 4.82 and a beta of 2.66. Shopify has a 52-week low of $48.56 and a 52-week high of $129.38.

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

Institutional Trading of Shopify

A number of hedge funds have recently added to or reduced their stakes in SHOP. Jennison Associates LLC bought a new position in shares of Shopify during the fourth quarter valued at approximately $132,323,000. Watts Gwilliam & Co. LLC boosted its position in Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after acquiring an additional 4,641 shares in the last quarter. Western Financial Corp CA purchased a new position in shares of Shopify in the 4th quarter valued at $239,000. Kessler Investment Group LLC purchased a new position in shares of Shopify in the 4th quarter valued at $6,105,000. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Shopify during the 4th quarter worth $461,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.