Shopify (TSE:SHOP) Sets New 52-Week Low – Here’s What Happened

Shopify Inc. (TSE:SHOP – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$138.02 and last traded at C$138.34, with a volume of 574550 shares trading hands. The stock had previously closed at C$140.28.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. ATB Cormark Capital Markets dropped their price target on Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Wells Fargo & Company dropped their price target on Shopify from $191.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$206.33.

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Shopify Stock Performance

The company has a debt-to-equity ratio of 1.43, a quick ratio of 5.74 and a current ratio of 6.20. The business has a 50 day moving average price of C$166.30 and a two-hundred day moving average price of C$193.59. The company has a market cap of C$176.01 billion, a P/E ratio of 132.98, a price-to-earnings-growth ratio of 0.87 and a beta of 1.82.

Shopify (TSE:SHOP – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported C($0.63) earnings per share for the quarter. Shopify had a net margin of 10.94% and a return on equity of 10.70%. The company had revenue of C$4.41 billion during the quarter. On average, sell-side analysts anticipate that Shopify Inc. will post 1.9256156 earnings per share for the current year.

About Shopify

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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.

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