Shopify (TSE:SHOP) Stock Price Down 1.7% – Here’s What Happened

by · The Markets Daily

Shopify Inc. (TSE:SHOP – Get Free Report)’s share price was down 1.7% during mid-day trading on Friday . The stock traded as low as C$220.20 and last traded at C$222.78. Approximately 1,013,391 shares traded hands during trading, a decline of 48% from the average daily volume of 1,938,718 shares. The stock had previously closed at C$226.67.

Analysts Set New Price Targets

A number of brokerages have commented on SHOP. TD Securities boosted their price objective on shares of Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. ATB Capital boosted their price target on Shopify from C$220.00 to C$250.00 in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada downgraded Shopify from an “outperform” rating to a “sector perform” rating and increased their price target for the company from C$160.00 to C$220.00 in a report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$184.75.

View Our Latest Research Report on SHOP

Shopify Price Performance

The company has a market cap of C$290.02 billion, a P/E ratio of 163.81, a P/E/G ratio of 0.87 and a beta of 2.77. The company’s 50-day moving average price is C$222.03 and its two-hundred day moving average price is C$190.49. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74.

Shopify (TSE:SHOP – Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.20 EPS for the quarter. The business had revenue of C$3.96 billion during the quarter. Shopify had a return on equity of 20.32% and a net margin of 22.74%. As a group, sell-side analysts expect that Shopify Inc. will post 1.9256156 earnings per share for the current year.

Shopify Company Profile

(Get Free Report)

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.

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