Shopify (TSE:SHOP) Given New C$240.00 Price Target at ATB Cormark Capital Markets

Shopify (TSE:SHOP) had its target price dropped by investment analysts at ATB Cormark Capital Markets from C$250.00 to C$240.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective points to a potential upside of 66.88% from the company’s current price.

Separately, Wells Fargo & Company decreased their price objective on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$206.33.

Shopify Stock Down 1.7%

Shopify stock traded down C$2.46 during trading hours on Wednesday, hitting C$143.82. The stock had a trading volume of 1,878,262 shares, compared to its average volume of 1,960,731. The company has a quick ratio of 5.74, a current ratio of 5.92 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of C$186.73 billion, a P/E ratio of 153.00, a price-to-earnings-growth ratio of 0.87 and a beta of 1.82. Shopify has a 12-month low of C$122.40 and a 12-month high of C$253.10. The stock’s 50-day moving average price is C$167.70 and its 200-day moving average price is C$195.79.

Shopify (TSE:SHOP) last issued its earnings results on Tuesday, May 5th. The company reported C($0.63) earnings per share (EPS) for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%.The firm had revenue of C$4.41 billion during the quarter. Equities research analysts anticipate that Shopify 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.