Shopify (TSE:SHOP) Given New C$155.00 Price Target at ATB Capital

Shopify (TSE:SHOP) had its target price cut by equities researchers at ATB Capital from C$170.00 to C$155.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. ATB Capital’s price target suggests a potential upside of 18.06% from the stock’s current price.

Separately, Mizuho lifted their price target on shares of Shopify from C$105.00 to C$110.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th.

Shopify Stock Performance

Shares of SHOP stock opened at C$131.29 on Tuesday. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71. The firm has a market cap of C$122.27 billion, a price-to-earnings ratio of 59.44, a P/E/G ratio of 0.87 and a beta of 2.36. Shopify has a 52 week low of C$72.36 and a 52 week high of C$183.53. The firm’s 50-day simple moving average is C$132.52 and its two-hundred day simple moving average is C$145.63.

Insider Activity at Shopify

In related news, Director Tobyn David Shannan sold 430 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of C$135.62, for a total value of C$58,318.61. Also, Senior Officer Harley Michael Finkelstein sold 1,700 shares of the firm’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of C$135.43, for a total transaction of C$230,236.44. In the last three months, insiders have sold 62,159 shares of company stock worth $10,396,250. Company insiders own 0.18% of the company’s stock.

About Shopify

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.