Shopify (TSE:SHOP) Trading Down 3.8% – Here’s Why

Shopify Inc. (TSE:SHOP) shares were down 3.8% on Monday . The company traded as low as C$144.19 and last traded at C$144.98. Approximately 315,111 shares changed hands during trading, a decline of 84% from the average daily volume of 1,978,461 shares. The stock had previously closed at C$150.68.

Analyst Ratings Changes

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

Shopify Price Performance

The business’s 50 day moving average price is C$167.21 and its two-hundred day moving average price is C$194.77. The stock has a market cap of C$182.04 billion, a P/E ratio of 137.53, a price-to-earnings-growth ratio of 0.87 and a beta of 1.82. The company has a current ratio of 6.20, a quick ratio of 5.74 and a debt-to-equity ratio of 1.43.

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