Shopify (TSE:SHOP) Shares Pass Below 50-Day Moving Average – Should You Sell?

Shopify Inc. (TSE:SHOP)’s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$190.45 and traded as low as C$166.67. Shopify shares last traded at C$176.75, with a volume of 1,923,518 shares traded.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 price objective for the company in a research note on Tuesday, February 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$209.67.

Shopify Trading Down 4.1%

The company has a debt-to-equity ratio of 2.66, a quick ratio of 5.74 and a current ratio of 5.92. The stock has a market cap of C$230.54 billion, a P/E ratio of 188.06, a P/E/G ratio of 0.87 and a beta of 1.80. The stock has a 50-day moving average price of C$188.40 and a 200-day moving average price of C$206.39.

Shopify (TSE:SHOP) last released its earnings results on Wednesday, February 11th. The company reported C$0.78 EPS for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%.The business had revenue of C$4.88 billion for the quarter. On average, equities research analysts expect that Shopify Inc. will post 1.9256156 EPS for the current 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.