Shopify (TSE:SHOP) Releases Earnings Results

Shopify (TSE:SHOP) announced its quarterly earnings data on Tuesday. The company reported C($0.63) earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$4.41 billion for the quarter. Shopify had a return on equity of 10.70% and a net margin of 10.94%.

Shopify Stock Performance

Shares of TSE:SHOP opened at C$147.57 on Thursday. The business has a fifty day moving average of C$167.37 and a 200-day moving average of C$195.26. The company has a debt-to-equity ratio of 1.43, a quick ratio of 5.74 and a current ratio of 6.20. Shopify has a twelve month low of C$122.40 and a twelve month high of C$253.10. The firm has a market cap of C$191.60 billion, a PE ratio of 156.99, a price-to-earnings-growth ratio of 0.87 and a beta of 1.82.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SHOP shares. ATB Cormark Capital Markets lowered their price target on shares of Shopify from C$250.00 to C$240.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price 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. Two equities 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$206.33.

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.