Shopify (TSE:SHOP) Shares Up 11.1% on Analyst Upgrade

Shopify Inc. (TSE:SHOP)’s stock price was up 11.1% on Monday after ATB Capital raised their price target on the stock from C$155.00 to C$160.00. ATB Capital currently has an outperform rating on the stock. Shopify traded as high as C$147.52 and last traded at C$142.18. Approximately 855,397 shares changed hands during trading, a decline of 63% from the average daily volume of 2,312,321 shares. The stock had previously closed at C$127.98.

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

Insider Activity at Shopify

In related news, Senior Officer Harley Michael Finkelstein sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of C$135.43, for a total transaction of C$230,236.44. Also, Senior Officer Kasra Nejatian sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of C$172.76, for a total value of C$8,637,893.55. Insiders have sold 62,159 shares of company stock worth $10,396,250 over the last ninety days. Insiders own 0.18% of the company’s stock.

Shopify Stock Performance

The stock has a market capitalization of C$135.97 billion, a PE ratio of 66.10, a PEG ratio of 0.87 and a beta of 2.36. The business has a 50 day moving average price of C$131.54 and a 200 day moving average price of C$146.59. 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 Company Profile

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.