Shopify (TSE:SHOP) Price Target Cut to $166.00 by Analysts at Wells Fargo & Company

Shopify (TSE:SHOP) had its price objective reduced by equities research analysts at Wells Fargo & Company from $191.00 to $166.00 in a research report issued on Monday, April 6th, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the stock.

Separately, ATB Cormark Capital Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 price objective on the stock in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of C$209.67.

Shopify Stock Up 3.1%

Shares of SHOP stock traded up C$4.74 on Monday, hitting C$158.29. 1,377,562 shares of the stock were exchanged, compared to its average volume of 2,001,566. The company has a current ratio of 5.92, a quick ratio of 5.74 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of C$205.93 billion, a P/E ratio of 168.39, a price-to-earnings-growth ratio of 0.87 and a beta of 1.68. The business has a 50-day moving average of C$165.14 and a 200 day moving average of C$200.57. Shopify has a fifty-two week low of C$111.06 and a fifty-two week high of C$253.10.

Shopify (TSE:SHOP) last issued its quarterly earnings results on Wednesday, February 11th. The company reported C$0.78 EPS for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%.The firm had revenue of C$4.88 billion during the quarter. Equities analysts anticipate that Shopify 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.