Shopify (NYSE:SHOP) Stock Price Down 4% – Should You Sell?

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price was down 4% on Friday . The stock traded as low as $96.59 and last traded at $98.42. Approximately 3,799,790 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 8,619,245 shares. The stock had previously closed at $102.52.

Analyst Upgrades and Downgrades

SHOP has been the topic of several analyst reports. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their price target for the company from $110.00 to $140.00 in a research report on Friday, December 6th. New Street Research initiated coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Wells Fargo & Company upped their price target on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Robert W. Baird raised their price objective on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, UBS Group upped their target price on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Down 5.9 %

The stock has a market cap of $124.96 billion, a price-to-earnings ratio of 62.27, a PEG ratio of 4.82 and a beta of 2.60. The stock’s 50 day moving average is $110.21 and its two-hundred day moving average is $100.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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%. On average, sell-side analysts predict that Shopify Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allianz SE purchased a new position in Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after acquiring an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify in the fourth quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC increased its stake in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new position in Shopify during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.