Shopify (TSE:SHOP) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of Shopify Inc. (TSE:SHOP) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$178.84 and traded as low as C$150.75. Shopify shares last traded at C$151.58, with a volume of 4,017,237 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on SHOP shares. ATB Cormark Capital Markets reduced their price target on Shopify from C$250.00 to C$240.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Company dropped their price target on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$206.33.

Shopify Stock Down 1.4%

The company has a market cap of C$196.70 billion, a P/E ratio of 148.61, a price-to-earnings-growth ratio of 0.87 and a beta of 2.30. The stock has a fifty day moving average price of C$155.97 and a two-hundred day moving average price of C$178.84. The company has a debt-to-equity ratio of 1.43, a current ratio of 6.20 and a quick ratio of 5.74.

Shopify (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C($0.63) EPS for the quarter. The firm had revenue of C$4.41 billion during the quarter. Shopify had a net margin of 10.94% and a return on equity of 10.70%. On average, research analysts expect that Shopify Inc. will post 1.9256156 EPS for the current year.

About Shopify

Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between. Millions of businesses in 175+ countries use Shopify-from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.