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

Shopify Inc. (TSE:SHOP)’s stock 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 lifted their target price on shares of Shopify from C$105.00 to C$110.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th.

Insider Buying and Selling

In other Shopify news, Director Tobyn David Shannan sold 430 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$135.62, for a total transaction of C$58,318.61. Also, Senior Officer Harley Michael Finkelstein sold 1,700 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of C$135.43, for a total transaction of C$230,236.44. Over the last three months, insiders sold 12,159 shares of company stock worth $1,758,356. Corporate insiders own 0.18% of the company’s stock.

Shopify Price Performance

The stock’s 50-day moving average price is C$131.61 and its 200 day moving average price is C$146.62. The firm 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 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.