Shopify (TSE:SHOP) Stock Price Down 7.8% - What's Next?

Key Points

• Shares fell 7.8% intraday to C$159.92 (low C$154.26) with 884,028 shares traded, about 54% below the average session volume, after a prior close of C$173.37.
• Analyst moves were mixed: Wells Fargo cut its price target to $166 while ATB Cormark upgraded to "outperform" with a C$250 target; consensus is a Moderate Buy with an average target of C$209.67.
• Fundamentals: Shopify reported quarterly EPS of C($0.63) and revenue of C$4.41 billion, has a market cap of C$189.73 billion and a high P/E of 155.46, with the 50-day moving average (C$168.23) below the 200-day (C$196.31).

Shopify Inc. (TSE:SHOP - Get Free Report) shares traded down 7.8% during trading on Tuesday . The stock traded as low as C$154.26 and last traded at C$159.92. 884,028 shares were traded during trading, a decline of 54% from the average session volume of 1,903,805 shares. The stock had previously closed at C$173.37.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SHOP. Wells Fargo & Company reduced their price objective on 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 raised 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 note on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and an average price target of C$209.67.

Shopify Stock Down 15.7%

The company has a market cap of C$189.73 billion, a price-to-earnings ratio of 155.46, a P/E/G ratio of 0.87 and a beta of 1.68. The stock's 50-day moving average is C$168.23 and its 200-day moving average is C$196.31. The company has a current ratio of 5.92, a quick ratio of 5.74 and a debt-to-equity ratio of 2.66.

Shopify (TSE:SHOP - Get Free Report) 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 10.12% and a net margin of 10.70%.The company had revenue of C$4.41 billion for the quarter. On average, analysts anticipate that Shopify Inc. will post 1.9256156 earnings per share for the current fiscal 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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