Shopify (TSE:SHOP) Stock Price Down 6.1% – What’s Next?

Shares of Shopify Inc. (TSE:SHOP) traded down 6.1% on Monday . The stock traded as low as C$161.23 and last traded at C$162.34. 414,687 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 2,023,260 shares. The stock had previously closed at C$172.89.

Analyst Ratings Changes

SHOP has been the topic of a number of recent analyst reports. ATB Cormark Capital Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 target price on the stock in a research note on Tuesday, February 10th. TD Securities raised their target price on Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$209.67.

Shopify Trading Down 7.9%

The firm has a 50-day simple moving average of C$200.43 and a 200-day simple moving average of C$208.82. 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 stock has a market cap of C$207.60 billion, a PE ratio of 168.62, a P/E/G ratio of 0.87 and a beta of 2.12.

Shopify (TSE:SHOP) last released its quarterly earnings data on Wednesday, February 11th. The company reported C$0.78 earnings per share (EPS) for the quarter. The company had revenue of C$4.88 billion for the quarter. Shopify had a return on equity of 20.32% and a net margin of 22.74%. Equities 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. 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.