Shopify (TSE:SHOP) Shares Up 11.3% – Time to Buy?

Shopify Inc. (TSE:SHOP)’s stock price shot up 11.3% during trading on Monday . The stock traded as high as C$178.88 and last traded at C$178.62. Approximately 2,007,726 shares changed hands during trading, a decline of 0% from the average session volume of 2,017,812 shares. The stock had previously closed at C$160.46.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. ATB Cormark Capital Markets decreased their price target on Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Wells Fargo & Company dropped their price target on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$206.33.

Shopify Trading Up 11.6%

The company has a current ratio of 6.20, a quick ratio of 5.74 and a debt-to-equity ratio of 1.43. The firm has a market cap of C$232.41 billion, a PE ratio of 175.59, a P/E/G ratio of 0.87 and a beta of 2.28. The company’s 50-day moving average is C$160.08 and its 200 day moving average is C$168.34.

Shopify (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C($0.63) earnings per share for the quarter. Shopify had a return on equity of 10.70% and a net margin of 10.94%.The firm had revenue of C$4.41 billion for the quarter. As a group, sell-side analysts predict that Shopify Inc. will post 1.9256156 EPS for the current year.

Shopify Company Profile

Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between. Millions of businesses in 175+ countries use Shopify-from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.