Shopify (TSE:SHOP) Shares Down 3.8% – Here’s Why

Shopify Inc. (TSE:SHOP)’s stock price was down 3.8% on Monday . The company traded as low as C$144.19 and last traded at C$144.98. Approximately 315,111 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,978,461 shares. The stock had previously closed at C$150.68.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SHOP shares. Wells Fargo & Company cut their price objective on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. ATB Cormark Capital Markets cut their price objective on shares of Shopify from C$250.00 to C$240.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of C$206.33.

Shopify Trading Down 4.5%

The company has a market cap of C$169.62 billion, a price-to-earnings ratio of 128.15, a price-to-earnings-growth ratio of 0.87 and a beta of 1.82. The company has a quick ratio of 5.74, a current ratio of 6.20 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average is C$165.74 and its 200 day moving average is C$192.96.

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

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.