Shopify (TSE:SHOP) Trading Down 0.2% – Time to Sell?

Shopify Inc. (TSE:SHOP)’s stock price was down 0.2% during mid-day trading on Friday . The company traded as low as C$230.03 and last traded at C$231.76. Approximately 424,770 shares changed hands during trading, a decline of 78% from the average daily volume of 1,928,098 shares. The stock had previously closed at C$232.12.

Analysts Set New Price Targets

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

Shopify Stock Down 0.2%

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 firm’s 50 day moving average price is C$224.93 and its two-hundred day moving average price is C$199.44. The company has a market cap of C$301.72 billion, a P/E ratio of 170.41, a price-to-earnings-growth ratio of 0.87 and a beta of 2.77.

Shopify (TSE:SHOP) last posted its earnings results on Tuesday, November 4th. The company reported C$0.20 EPS for the quarter. Shopify had a net margin of 22.74% and a return on equity of 20.32%. The company had revenue of C$3.96 billion during the quarter. Equities research analysts anticipate that Shopify Inc. will post 1.9256156 EPS 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.