Shopify (TSE:SHOP) Stock Price Down 0.2% – What’s Next?

Shopify Inc. (TSE:SHOP) was down 0.2% on Friday . The stock traded as low as C$230.03 and last traded at C$231.76. Approximately 424,770 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 1,928,098 shares. The stock had previously closed at C$232.12.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Securities boosted their price target on Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. ATB Capital increased their price objective on shares of Shopify from C$220.00 to C$250.00 in a report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Hold” and an average price target of C$184.75.

Shopify Stock Down 0.2%

The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74. The company has a market capitalization of C$301.72 billion, a PE ratio of 170.41, a P/E/G ratio of 0.87 and a beta of 2.77. The business’s 50 day simple moving average is C$224.93 and its 200 day simple moving average is C$199.10.

Shopify (TSE:SHOP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.20 earnings per share for the quarter. Shopify had a net margin of 22.74% and a return on equity of 20.32%. The business had revenue of C$3.96 billion during the quarter. As a group, analysts anticipate 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.