Shopify (TSE:SHOP) Hits New 52-Week Low – Here’s Why

Shares of Shopify Inc. (TSE:SHOP) reached a new 52-week low during trading on Tuesday . The stock traded as low as C$138.02 and last traded at C$138.34, with a volume of 574550 shares traded. The stock had previously closed at C$140.28.

Analyst Ratings Changes

Several analysts have recently commented on SHOP shares. ATB Cormark Capital Markets reduced their target price on shares of Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Wells Fargo & Company reduced their target price on shares of Shopify from $191.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$206.33.

Shopify Price Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 6.20 and a quick ratio of 5.74. The company’s 50 day moving average is C$164.43 and its 200 day moving average is C$191.47. The stock has a market cap of C$173.48 billion, a price-to-earnings ratio of 131.07, a PEG ratio of 0.87 and a beta of 1.82.

Shopify (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The company reported C($0.63) EPS for the quarter. Shopify had a net margin of 10.94% and a return on equity of 10.70%. The company had revenue of C$4.41 billion during the quarter. Research analysts forecast 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.