Shopify (TSE:SHOP) Announces Quarterly Earnings Results

Shopify (TSE:SHOP) issued its quarterly earnings data on Tuesday. The company reported C($0.63) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$4.41 billion for the quarter. Shopify had a return on equity of 10.12% and a net margin of 10.70%.

Shopify Stock Performance

Shares of TSE:SHOP opened at C$146.28 on Wednesday. The company’s 50 day simple moving average is C$167.70 and its 200 day simple moving average is C$195.79. The stock has a market capitalization of C$189.93 billion, a price-to-earnings ratio of 155.62, a price-to-earnings-growth ratio of 0.87 and a beta of 1.82. The company has a debt-to-equity ratio of 2.66, a current ratio of 5.92 and a quick ratio of 5.74. Shopify has a 1 year low of C$122.40 and a 1 year high of C$253.10.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. 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. Wells Fargo & Company cut their price objective on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of C$209.67.

About Shopify

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.