Wells Fargo & Company Has Lowered Expectations for Shopify (TSE:SHOP) Stock Price

Shopify (TSE:SHOP) had its price objective dropped by stock analysts at Wells Fargo & Company from C$191.00 to C$166.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 0.39% from the stock’s previous close.

Separately, ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 price target on the stock in a research note on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of C$198.75.

Shopify Trading Up 0.5%

SHOP traded up C$0.78 during trading hours on Monday, reaching C$165.36. 528,815 shares of the company’s stock traded hands, compared to its average volume of 1,968,546. The firm has a 50-day moving average price of C$167.76 and a 200 day moving average price of C$202.32. The firm has a market capitalization of C$215.65 billion, a PE ratio of 175.91, a PEG ratio of 0.87 and a beta of 1.68. The company has a quick ratio of 5.74, a current ratio of 5.92 and a debt-to-equity ratio of 2.66. Shopify has a 52-week low of C$99.80 and a 52-week high of C$253.10.

Shopify (TSE:SHOP) last released its earnings results on Wednesday, February 11th. The company reported C$0.78 earnings per share for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%.The business had revenue of C$4.88 billion for the quarter. As a group, sell-side analysts predict that Shopify 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.