Shopify (TSE:SHOP) Trading Down 2.1% – What’s Next?

Shopify Inc. (TSE:SHOP) was down 2.1% on Wednesday . The stock traded as low as C$148.05 and last traded at C$150.93. Approximately 1,587,543 shares were traded during trading, a decline of 22% from the average daily volume of 2,023,643 shares. The stock had previously closed at C$154.13.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SHOP shares. Wells Fargo & Company cut their target price on Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. ATB Cormark Capital Markets cut their target price on Shopify from C$250.00 to C$240.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of C$206.33.

Shopify Trading Down 2.1%

The company has a market capitalization of C$195.86 billion, a price-to-earnings ratio of 147.97, a P/E/G ratio of 0.87 and a beta of 2.30. The company has a 50-day moving average price of C$157.45 and a 200-day moving average price of C$181.80. The company has a quick ratio of 5.74, a current ratio of 6.20 and a debt-to-equity ratio of 1.43.

Shopify (TSE:SHOP) last released its earnings results 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. Research analysts predict that Shopify Inc. will post 1.9256156 EPS for the current fiscal year.

Shopify Company Profile

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.