Shopify (TSE:SHOP) Shares Down 10.3% – Here’s Why

by · The Markets Daily

Shopify Inc. (TSE:SHOP – Get Free Report)’s stock price fell 10.3% on Wednesday . The company traded as low as C$154.57 and last traded at C$154.80. 1,344,924 shares were traded during trading, a decline of 29% from the average session volume of 1,882,895 shares. The stock had previously closed at C$172.54.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. TD Securities raised their price objective on Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 target price on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$209.67.

Read Our Latest Research Report on SHOP

Shopify Trading Up 2.2%

The company has a 50-day moving average price of C$208.00 and a 200 day moving average price of C$208.90. The firm has a market cap of C$200.84 billion, a price-to-earnings ratio of 113.15, a PEG ratio of 0.87 and a beta of 2.12. The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74.

Shopify (TSE:SHOP – Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported C$0.78 EPS for the quarter. Shopify had a return on equity of 20.32% and a net margin of 22.74%.The firm had revenue of C$4.88 billion during the quarter. As a group, research analysts anticipate that Shopify Inc. will post 1.9256156 earnings per share for the current fiscal year.

About Shopify

(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. 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.

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