Shopify (TSE:SHOP) Posts Quarterly Earnings Results

Shopify (TSE:SHOP) released its earnings results on Wednesday. The company reported C$0.78 earnings per share (EPS) for the quarter, reports. The firm had revenue of C$4.88 billion during the quarter. Shopify had a net margin of 22.74% and a return on equity of 20.32%.

Shopify Stock Down 7.0%

Shares of TSE SHOP opened at C$160.41 on Thursday. Shopify has a 52-week low of C$99.32 and a 52-week high of C$253.10. The firm has a market capitalization of C$209.35 billion, a price-to-earnings ratio of 117.95, a PEG ratio of 0.87 and a beta of 2.12. The stock has a 50 day moving average price of C$209.52 and a 200 day moving average price of C$209.31. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71.

Analysts Set New Price Targets

A number of research firms have recently commented on SHOP. TD Securities upped their target price on Shopify from C$156.00 to C$159.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. ATB Capital 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. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$209.67.

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.