Shopify (TSE:SHOP) Shares Pass Below Fifty Day Moving Average - Time to Sell?

Key Points

• Shopify shares fell below its 50‑day moving average, trading as low as C$166.67 and last at C$176.75 versus a 50‑day MA of C$190.45 on volume of about 1.92 million shares.
• Analysts are mixed with a consensus rating of "Hold" and a C$209.67 average price target; recent notes range from TD Securities' C$159 target (Hold) to ATB Cormark's C$250 target (Outperform), while the stock trades at a high P/E (~188) and a market cap of C$230.5 billion.

Shopify Inc. (TSE:SHOP - Get Free Report) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$190.45 and traded as low as C$166.67. Shopify shares last traded at C$176.75, with a volume of 1,923,518 shares trading hands.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. TD Securities raised their target price on 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 Cormark Capital Markets upgraded shares of Shopify from a "sector perform" rating to an "outperform" rating and set a C$250.00 price objective for the company in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of C$209.67.

Shopify Stock Up 6.0%

The company has a current ratio of 5.92, a quick ratio of 5.74 and a debt-to-equity ratio of 2.66. The firm's fifty day moving average price is C$190.45 and its 200-day moving average price is C$206.69. The company has a market cap of C$230.50 billion, a price-to-earnings ratio of 188.03, a price-to-earnings-growth ratio of 0.87 and a beta of 2.12.

Shopify (TSE:SHOP - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported C$0.78 earnings per share 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$4.88 billion for the quarter. Sell-side analysts predict that Shopify Inc. will post 1.9256156 earnings per share 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.

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