Shopify (TSE:SHOP) Stock Price Down 2.3% - What's Next?

Key Points

• Shares fell 2.3% intraday to C$159.95 (low C$159.15) with ~1.10M shares traded—about 45% below average—and the stock is trading below its 50-day (C$172.39) and 200-day (C$203.93) moving averages.
• ATB Cormark upgraded Shopify to an outperform with a C$250 price target, but the consensus remains a Hold with an average target of C$209.67.
• Fundamentals show a market cap of C$208.6B and a high P/E of 170.16; last quarter EPS was C$0.78 on C$4.88B revenue (net margin 10.7%), and analysts forecast roughly C$1.93 EPS for the current year, indicating strong revenue but a rich valuation.

Shopify Inc. (TSE:SHOP - Get Free Report) shares traded down 2.3% during mid-day trading on Thursday . The stock traded as low as C$159.15 and last traded at C$159.95. 1,101,978 shares were traded during mid-day trading, a decline of 45% from the average session volume of 2,018,302 shares. The stock had previously closed at C$163.72.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets raised shares of Shopify from a "sector perform" rating to an "outperform" rating and set a C$250.00 price objective on the stock in a research report on Tuesday, February 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Shopify presently has an average rating of "Hold" and an average target price of C$209.67.

Shopify Price Performance

The firm has a market capitalization of C$208.59 billion, a P/E ratio of 170.16, a PEG ratio of 0.87 and a beta of 1.80. The company has a debt-to-equity ratio of 2.66, a quick ratio of 5.74 and a current ratio of 5.92. The firm has a 50-day moving average of C$172.39 and a 200-day moving average of C$203.93.

Shopify (TSE:SHOP - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported C$0.78 EPS for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%.The business had revenue of C$4.88 billion during the quarter. As a group, 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.

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