Shopify (NASDAQ:SHOP) Downgraded to “Hold” Rating by Rothschild & Co Redburn

Rothschild & Co Redburn downgraded shares of Shopify (NASDAQ:SHOP) (TSE:SHOP) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Bank of America began coverage on Shopify in a research report on Tuesday, July 7th. They set a “buy” rating and a $150.00 price target for the company. Morgan Stanley lowered Shopify from an “overweight” rating to a “buy” rating in a research note on Monday, July 13th. Wells Fargo & Company dropped their price objective on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Barclays set a $126.00 price objective on Shopify and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Citigroup downgraded shares of Shopify from a “market outperform” rating to a “neutral” rating in a research note on Friday, July 10th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.86.

Shopify Price Performance

Shares of Shopify stock opened at $123.03 on Tuesday. Shopify has a 1 year low of $94.00 and a 1 year high of $182.19. The business has a 50 day moving average price of $113.37 and a 200 day moving average price of $122.81. The company has a market capitalization of $159.65 billion, a P/E ratio of 121.81, a P/E/G ratio of 2.70 and a beta of 2.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Shopify by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock worth $8,158,643,000 after acquiring an additional 743,803 shares during the period. Norges Bank purchased a new stake in Shopify in the fourth quarter valued at approximately $2,611,797,000. Invesco Ltd. grew its holdings in Shopify by 9.8% in the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares during the period. Geode Capital Management LLC increased its position in Shopify by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after purchasing an additional 737,892 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Shopify by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock worth $1,627,352,000 after purchasing an additional 827,643 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify expanded its commerce ecosystem with a new native integration with DoorDash, allowing U.S. brick-and-mortar merchants to sell in-store products on the DoorDash marketplace with synced inventory and streamlined setup. This could support merchant adoption and deepen Shopify’s omnichannel offering. Shopify (SHOP) Opens DoorDash To US Retailers With Direct Selling Integration
• Positive Sentiment: National Bank Financial raised its price target on Shopify to $155 and reiterated an outperform view, signaling continued analyst confidence in the company’s growth outlook. Analyst rating update
• Positive Sentiment: Unusually heavy call-option buying suggests some traders are positioning for further upside in SHOP ahead of potential catalysts. Options activity report
• Positive Sentiment: Morgan Stanley said sentiment on software stocks has become “too negative,” implying Shopify could rebound if investors rotate back into high-quality software names. Morgan Stanley software stock commentary
• Neutral Sentiment: Shopify remains one of Zacks’ most watched stocks and was highlighted as a long-term idea, but these pieces are mostly visibility/attention items rather than fresh fundamental news. Shopify is Attracting Investor Attention Why Shopify is a Top Stock for the Long-Term
• Negative Sentiment: The stock traded lower in the latest session, reflecting ongoing pressure even as the broader market moved higher. Shopify Stock Sinks As Market Gains

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.