Shopify (TSE:SHOP) Price Target Lowered to C$166.00 at Wells Fargo & Company

Shopify (TSE:SHOP) had its target price decreased by research analysts at Wells Fargo & Company from C$191.00 to C$166.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 0.39% from the stock’s current price.

Separately, ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 price objective for the company in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$198.75.

Shopify Price Performance

SHOP stock traded up C$0.78 during trading on Monday, hitting C$165.36. 528,815 shares of the company’s stock traded hands, compared to its average volume of 1,968,546. Shopify has a 52 week low of C$99.80 and a 52 week high of C$253.10. The company has a debt-to-equity ratio of 2.66, a quick ratio of 5.74 and a current ratio of 5.92. The business has a fifty day simple moving average of C$167.76 and a 200 day simple moving average of C$202.32. The stock has a market capitalization of C$215.65 billion, a price-to-earnings ratio of 175.91, a P/E/G ratio of 0.87 and a beta of 1.68.

Shopify (TSE:SHOP) last posted its earnings results on Wednesday, February 11th. The company reported C$0.78 earnings per share for the quarter. Shopify had a net margin of 10.70% and a return on equity of 10.12%. The firm had revenue of C$4.88 billion for the quarter. As a group, research analysts expect that Shopify will post 1.9256156 EPS for the current fiscal year.

About Shopify

Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store, and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as BarkBox, Vuori, BevMo, Carrier, JB Hi-Fi, Meta, ButcherBox, SKIMS, Supreme, and many more.