Shopify (TSE:SHOP) Posts Quarterly Earnings Results

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

Shopify Stock Down 6.1%

SHOP opened at C$150.55 on Friday. Shopify has a twelve month low of C$99.32 and a twelve month high of C$253.10. The company’s 50-day moving average price is C$208.00 and its two-hundred day moving average price is C$208.90. The stock has a market cap of C$196.49 billion, a price-to-earnings ratio of 110.70, a PEG ratio of 0.87 and a beta of 2.12. The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74.

Analyst Ratings Changes

SHOP has been the subject of several analyst reports. TD Securities increased their price objective on shares of 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 raised Shopify from a “sector perform” rating to an “outperform” rating and set a C$250.00 target price for the company in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$209.67.

Shopify Company Profile

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.