Shopify (TSE:SHOP) Given New C$175.00 Price Target at TD

Shopify (TSE:SHOP) had its target price increased by equities research analysts at TD from C$159.00 to C$175.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price target would indicate a potential downside of 14.83% from the stock’s previous close.

Separately, ATB Cormark Capital Markets lowered their target price on shares of Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$203.50.

Shopify Price Performance

SHOP stock traded up C$3.51 during mid-day trading on Thursday, reaching C$205.48. The company’s stock had a trading volume of 1,595,376 shares, compared to its average volume of 2,066,368. The company has a current ratio of 6.20, a quick ratio of 5.74 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is C$165.57 and its two-hundred day moving average is C$165.45. Shopify has a fifty-two week low of C$129.01 and a fifty-two week high of C$253.10. The stock has a market cap of C$266.64 billion, a PE ratio of 201.45, a P/E/G ratio of 0.87 and a beta of 2.28.

Shopify (TSE:SHOP) last released its quarterly earnings data on Tuesday, May 5th. The company reported C($0.63) earnings per share (EPS) for the quarter. Shopify had a return on equity of 10.70% and a net margin of 10.94%.The firm had revenue of C$4.41 billion for the quarter. Equities research analysts expect that Shopify 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.