Shopify (TSE:SHOP) Stock Price Down 2.3% – Time to Sell?

Shopify Inc. (TSE:SHOP)’s stock price was down 2.3% during mid-day trading on Thursday . The company traded as low as C$159.15 and last traded at C$159.95. Approximately 1,101,978 shares were traded during trading, a decline of 45% from the average daily volume of 2,018,302 shares. The stock had previously closed at C$163.72.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets raised Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 target price on the stock in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Shopify has an average rating of “Hold” and an average target price of C$209.67.

Shopify Stock Performance

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$202.68 billion, a P/E ratio of 165.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.80. The business’s 50 day simple moving average is C$171.15 and its two-hundred day simple moving average is C$203.61.

Shopify (TSE:SHOP) last issued its earnings results on Wednesday, February 11th. The company reported C$0.78 earnings per share (EPS) for the quarter. Shopify had a net margin of 10.70% and a return on equity of 10.12%. The firm had revenue of C$4.88 billion for the quarter. Sell-side analysts anticipate that Shopify Inc. will post 1.9256156 EPS for the current fiscal 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.