TD Issues Positive Forecast for Shopify (TSE:SHOP) Stock Price

Shopify (TSE:SHOP) had its price target upped by research analysts at TD from C$159.00 to C$175.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s target price indicates a potential downside of 14.83% from the company’s current price.

Separately, ATB Cormark Capital Markets reduced their target price on Shopify from C$250.00 to C$240.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of C$203.50.

Shopify Price Performance

Shares of TSE SHOP traded up C$3.51 during trading on Thursday, hitting C$205.48. 1,595,376 shares of the company were exchanged, compared to its average volume of 2,066,368. The company has a debt-to-equity ratio of 1.43, a current ratio of 6.20 and a quick ratio of 5.74. Shopify has a 1 year low of C$129.01 and a 1 year high of C$253.10. The company has a market cap of C$266.64 billion, a price-to-earnings ratio of 201.45, a PEG ratio of 0.87 and a beta of 2.28. The firm’s fifty day moving average price is C$165.57 and its 200 day moving average price is C$165.45.

Shopify (TSE:SHOP) last posted its earnings results on Tuesday, May 5th. The company reported C($0.63) EPS for the quarter. Shopify had a return on equity of 10.70% and a net margin of 10.94%.The firm had revenue of C$4.41 billion for the quarter. On average, sell-side analysts expect that Shopify will post 1.9256156 earnings per share for the current fiscal year.

Shopify Company Profile

Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between. Millions of businesses in 175+ countries use Shopify-from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.