Shopify (TSE:SHOP) Shares Up 0.4% – Should You Buy?

Shopify Inc. (TSE:SHOP) was up 0.4% on Friday . The company traded as high as C$156.88 and last traded at C$153.06. Approximately 2,145,031 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 1,893,555 shares. The stock had previously closed at C$152.41.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHOP. ATB Capital raised their target price on Shopify from C$220.00 to C$250.00 in a report on Wednesday, November 5th. 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 report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$184.75.

Shopify Price Performance

The stock has a market capitalization of C$199.76 billion, a price-to-earnings ratio of 112.54, a PEG 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 has a 50 day moving average of C$212.68 and a 200 day moving average of C$209.09.

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