Shopify (TSE:SHOP) Trading Up 11.1% After Analyst Upgrade

Shopify Inc. (TSE:SHOP)’s share price rose 11.1% during mid-day trading 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 were traded 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 upped their price objective 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 Buying and Selling

In other news, Senior Officer Harley Michael Finkelstein sold 1,711 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$158.03, for a total transaction of C$270,390.18. Also, Director Tobyn David Shannan sold 430 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of C$135.62, for a total transaction of C$58,318.61. In the last three months, insiders sold 12,159 shares of company stock valued at $1,758,356. Company insiders own 0.18% of the company’s stock.

Shopify Trading Up 2.8%

The stock has a market cap of C$139.80 billion, a price-to-earnings ratio of 67.96, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The firm’s 50 day moving average is C$131.61 and its two-hundred day moving average is C$146.62. The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74.

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.