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

Shopify Inc. (TSE:SHOP) passed below its 50-day moving average during trading on Thursday . The stock has a 50-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 changing hands.

Analysts Set New Price Targets

A number of research firms have commented on SHOP. ATB Capital upped their price target on Shopify from C$220.00 to C$250.00 in a research note on Wednesday, November 5th. Royal Bank Of Canada cut Shopify from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$160.00 to C$220.00 in a research report on Thursday, August 7th. Finally, TD Securities lifted their target price on Shopify from C$156.00 to C$159.00 and gave the company a “hold” rating in a research note 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$184.75.

Shopify Trading Down 6.2%

The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74. The business has a fifty day moving average price of C$218.62 and a 200-day moving average price of C$182.28. The company has a market cap of C$268.02 billion, a P/E ratio of 151.38, a PEG ratio of 0.87 and a beta of 2.86.

Shopify (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$0.20 earnings per share for the quarter. Shopify had a net margin of 22.74% and a return on equity of 20.32%. The business had revenue of C$3.96 billion during the quarter. On average, analysts forecast that Shopify Inc. will post 1.9256156 earnings per share 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.