Shopify (TSE:SHOP) Trading Down 1.2% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SHOP shares. TD Securities raised their price objective on shares of Shopify from C$156.00 to C$159.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. ATB Capital increased their price target on shares of Shopify from C$220.00 to C$250.00 in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$184.75.

Shopify Trading Down 1.2%

The business has a 50 day moving average of C$222.15 and a 200 day moving average of C$206.96. The firm has a market capitalization of C$282.54 billion, a price-to-earnings ratio of 159.58, a PEG ratio of 0.87 and a beta of 2.69. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74.

Shopify (TSE:SHOP) last released its 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. As a group, research analysts predict that Shopify Inc. will post 1.9256156 earnings per share 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.