Shopify (TSE:SHOP) Stock Crosses Below 50-Day Moving Average – Here’s Why

Shopify Inc. (TSE:SHOP)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$218.62 and traded as low as C$202.00. Shopify shares last traded at C$205.88, with a volume of 2,152,185 shares traded.

Analyst Ratings Changes

Several research firms have commented on SHOP. TD Securities increased their price objective on shares of Shopify from C$156.00 to C$159.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Royal Bank Of Canada lowered shares of Shopify from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$160.00 to C$220.00 in a research note on Thursday, August 7th. Finally, ATB Capital boosted their target price on Shopify from C$220.00 to C$250.00 in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$184.75.

Shopify Price Performance

The stock has a 50-day moving average price of C$218.62 and a two-hundred day moving average price of C$182.28. The stock has a market cap of C$268.02 billion, a price-to-earnings ratio of 151.38, a PEG ratio of 0.87 and a beta of 2.86. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74.

Shopify (TSE:SHOP) last announced its quarterly earnings data 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 business had revenue of C$3.96 billion for the quarter. As a group, equities research analysts forecast that Shopify Inc. will post 1.9256156 EPS for the current 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.