Shopify (TSE:SHOP) Issues Quarterly Earnings Results

Shopify (TSE:SHOP) issued its earnings results on Wednesday. The company reported C$0.78 EPS for the quarter, reports. The business had revenue of C$4.88 billion during the quarter. Shopify had a net margin of 22.74% and a return on equity of 20.32%.

Shopify Trading Up 7.4%

Shares of Shopify stock opened at C$172.54 on Wednesday. The stock has a 50 day moving average of C$210.77 and a 200 day moving average of C$209.65. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71. The firm has a market capitalization of C$225.18 billion, a price-to-earnings ratio of 126.87, a PEG ratio of 0.87 and a beta of 2.12. Shopify has a fifty-two week low of C$99.32 and a fifty-two week high of C$253.10.

Analyst Ratings Changes

Several research analysts have recently weighed in on SHOP shares. ATB Capital upgraded Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 target price on the stock in a report on Tuesday. TD Securities lifted their price objective 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. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Hold” and an average price target of C$184.75.

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.