Shopify Inc. (TSE:SHOP - Get Free Report)'s stock price traded down 19.3% on Wednesday . The company traded as low as C$83.33 and last traded at C$85.30. 1,254,293 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 2,593,744 shares. The stock had previously closed at C$105.75.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group raised their price objective on shares of Shopify from C$86.00 to C$90.00 and gave the stock a "buy" rating in a report on Wednesday, February 14th.
Read Our Latest Stock Analysis on SHOP
Shopify Stock Performance
The company has a debt-to-equity ratio of 12.69, a current ratio of 6.99 and a quick ratio of 5.74. The stock has a market capitalization of C$104.25 billion, a P/E ratio of 662.77, a price-to-earnings-growth ratio of 1.09 and a beta of 2.20. The company has a 50 day simple moving average of C$101.73 and a 200-day simple moving average of C$99.95.
Insider Activity at Shopify
In other news, Senior Officer Harley Michael Finkelstein sold 424 shares of the firm's stock in a transaction on Monday, April 29th. The stock was sold at an average price of C$71.84, for a total value of C$30,460.84. In the last three months, insiders have sold 10,396 shares of company stock worth $783,992. Company insiders own 0.19% of the company's stock.
About Shopify
(
Get Free Report)
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
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