Shopify (TSE:SHOP) Trading Down 1.2% – Time to Sell?

Shopify Inc. (TSE:SHOP)’s stock price fell 1.2% during mid-day trading on Friday . The company traded as low as C$216.48 and last traded at C$217.03. 1,056,511 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 1,542,698 shares. The stock had previously closed at C$219.68.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SHOP shares. ATB Capital lifted their price objective on Shopify from C$220.00 to C$250.00 in a report on Wednesday, November 5th. TD Securities lifted their price target on shares of Shopify from C$156.00 to C$159.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Hold” and a consensus price target of C$184.75.

Shopify Stock Down 1.2%

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 firm has a 50-day moving average of C$222.15 and a 200 day moving average of C$206.96. The stock has a market capitalization of C$282.54 billion, a price-to-earnings ratio of 159.58, a PEG ratio of 0.87 and a beta of 2.69.

Shopify (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.20 earnings per share (EPS) for the quarter. Shopify had a return on equity of 20.32% and a net margin of 22.74%.The company had revenue of C$3.96 billion for the quarter. As a group, sell-side analysts forecast that Shopify Inc. will post 1.9256156 earnings per share 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.