Shopify (TSE:SHOP) Trading Down 2.3% – Here’s Why

Shopify Inc. (TSE:SHOP) fell 2.3% during trading on Thursday . The stock traded as low as C$159.15 and last traded at C$159.95. 1,101,978 shares were traded during mid-day trading, a decline of 45% from the average session volume of 2,018,302 shares. The stock had previously closed at C$163.72.

Analyst Upgrades and Downgrades

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

Shopify Stock Performance

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 firm has a market cap of C$208.59 billion, a P/E ratio of 170.16, a P/E/G ratio of 0.87 and a beta of 1.80. The business’s 50-day simple moving average is C$172.39 and its 200 day simple moving average is C$203.93.

Shopify (TSE:SHOP) last released its quarterly earnings results on Wednesday, February 11th. The company reported C$0.78 earnings per share for the quarter. The firm had revenue of C$4.88 billion for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%. As a group, equities analysts predict that Shopify Inc. will post 1.9256156 earnings per share for the current 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.