Shopify (TSE:SHOP) Trading Down 6.1% – Here’s Why

Shopify Inc. (TSE:SHOP) was down 6.1% on Monday . The stock traded as low as C$161.23 and last traded at C$162.34. Approximately 414,687 shares were traded during trading, a decline of 80% from the average daily volume of 2,023,260 shares. The stock had previously closed at C$172.89.

Analyst Upgrades and Downgrades

SHOP has been the subject of several recent research reports. ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 price objective for the company in a research report on Tuesday, February 10th. TD Securities increased their price target on shares of Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$209.67.

Shopify Stock Up 2.6%

The company has a market capitalization of C$214.71 billion, a PE ratio of 174.39, a P/E/G ratio of 0.87 and a beta of 2.12. 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 company’s 50-day moving average is C$197.96 and its 200 day moving average is C$208.17.

Shopify (TSE:SHOP) last issued its earnings results on Wednesday, February 11th. The company reported C$0.78 earnings per share (EPS) for the quarter. Shopify had a net margin of 22.74% and a return on equity of 20.32%. The business had revenue of C$4.88 billion during the quarter. As a group, analysts anticipate that Shopify Inc. will post 1.9256156 EPS 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.