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

Shopify Inc. (TSE:SHOP) shares dropped 2.1% during trading on Wednesday . The company traded as low as C$148.05 and last traded at C$150.93. Approximately 1,587,543 shares traded hands 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 Ratings Changes

SHOP has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, April 6th. ATB Cormark Capital Markets lowered their target price on shares of Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$206.33.

Shopify Stock Down 2.1%

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

Shopify (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C($0.63) EPS for the quarter. Shopify had a return on equity of 10.70% and a net margin of 10.94%.The business had revenue of C$4.41 billion for the quarter. As a group, equities research analysts predict that Shopify Inc. will post 1.9256156 EPS for the current fiscal year.

About Shopify

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.