ATB Capital Upgrades Shopify (TSE:SHOP) to Outperform

Shopify (TSE:SHOP) was upgraded by ATB Capital from a “sector perform” rating to an “outperform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a C$250.00 price target on the stock. ATB Capital’s target price would suggest a potential upside of 55.85% from the stock’s current price.

Separately, TD Securities raised their price objective on Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$209.67.

Shopify Trading Down 7.0%

Shares of Shopify stock opened at C$160.41 on Tuesday. The company’s fifty day simple moving average is C$209.52 and its 200-day simple moving average is C$209.31. The stock has a market capitalization of C$209.35 billion, a PE ratio of 117.95, a P/E/G ratio of 0.87 and a beta of 2.12. Shopify has a 1-year low of C$99.32 and a 1-year high of C$253.10. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74.

Shopify (TSE:SHOP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported C$0.78 EPS for the quarter. The firm had revenue of C$4.88 billion during the quarter. Shopify had a return on equity of 20.32% and a net margin of 22.74%. As a group, equities analysts anticipate that Shopify will post 1.9256156 earnings per share for the current 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.