Shopify (TSE:SHOP) Shares Down 1.2% – What’s Next?

Shopify Inc. (TSE:SHOP)’s stock price fell 1.2% during mid-day trading on Friday . The company traded as low as C$216.48 and last traded at C$217.03. 1,056,511 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 1,542,698 shares. The stock had previously closed at C$219.68.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. ATB Capital lifted their price objective on Shopify from C$220.00 to C$250.00 in a research note on Wednesday, November 5th. TD Securities boosted their price target on shares of Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$184.75.

Shopify Price Performance

The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74. The company has a 50 day moving average price of C$222.15 and a 200 day moving average price of C$207.30. The firm has a market cap of C$282.54 billion, a PE ratio of 159.58, a PEG ratio of 0.87 and a beta of 2.69.

Shopify (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.20 earnings per share for the quarter. Shopify had a return on equity of 20.32% and a net margin of 22.74%.The firm had revenue of C$3.96 billion for the quarter. Sell-side analysts expect that Shopify Inc. 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.