BUZZ-Shopify Inc: Biggest intraday pct loss in 3 months

Wed Sep 28, 2016 12:59pm EDT
 
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** U.S.-listed shares of the e-commerce software maker down 7.1 pct at $40.74

** U.S.-listed shares fall as much as 7.13 pct to $40.74, biggest intraday pct loss in 3 months

** Morgan Stanley cuts to "equal-weight" from "overweight"

** SHOP's merchant count has decelerated over the past few years and we expect merchant growth will continue to moderate as the platform grows - Morgan Stanley note

** 12 of 16 brokerages rate the stock "buy" or higher, 4 "hold"; Median PT $44

** Up to Tuesday's close, stock had risen nearly 70 pct this year