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

Shopify (TSE:SHOP) had its price objective lowered by Wells Fargo & Company from C$191.00 to C$166.00 in a research report released on Monday morning,BayStreet.CA reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, ATB Cormark Capital Markets upgraded Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 price objective for the company in a report on Tuesday, February 10th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$198.75.

Shopify Trading Up 0.5%

TSE SHOP opened at C$165.37 on Monday. Shopify has a fifty-two week low of C$99.80 and a fifty-two week high of C$253.10. 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 stock has a 50 day simple moving average of C$167.32 and a two-hundred day simple moving average of C$202.01. The stock has a market cap of C$215.66 billion, a P/E ratio of 175.93, a price-to-earnings-growth ratio of 0.87 and a beta of 1.68.

Shopify (TSE:SHOP) last released its quarterly earnings data on Wednesday, February 11th. The company reported C$0.78 earnings per share for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%.The business had revenue of C$4.88 billion during the quarter. On average, analysts forecast that Shopify will post 1.9256156 earnings per share for the current 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.