Shopify (TSE:SHOP) Stock Price Up 11.3% – Should You Buy?

Shares of Shopify Inc. (TSE:SHOP) rose 11.3% during trading on Monday . The stock traded as high as C$178.88 and last traded at C$178.62. 2,007,726 shares changed hands during trading, a decline of 0% from the average daily volume of 2,017,812 shares. The stock had previously closed at C$160.46.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHOP. Wells Fargo & Company reduced their target price on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. ATB Cormark Capital Markets decreased their price target on shares of Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$206.33.

Shopify Trading Up 11.6%

The firm has a market cap of C$232.41 billion, a P/E ratio of 175.59, a P/E/G ratio of 0.87 and a beta of 2.28. The company has a debt-to-equity ratio of 1.43, a quick ratio of 5.74 and a current ratio of 6.20. The firm has a fifty day moving average of C$160.08 and a 200-day moving average of C$168.34.

Shopify (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The company reported C($0.63) earnings per share for the quarter. The firm had revenue of C$4.41 billion during the quarter. Shopify had a return on equity of 10.70% and a net margin of 10.94%. Equities research analysts forecast that Shopify Inc. will post 1.9256156 earnings per share for the current year.

About Shopify

Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between. Millions of businesses in 175+ countries use Shopify-from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.