Shopify (TSE:SHOP) Shares Up 12.2% Following Analyst Upgrade

Shopify Inc. (TSE:SHOP) shot up 12.2% 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$143.53. 1,676,593 shares were traded during trading, a decline of 28% from the average session volume of 2,325,656 shares. The stock had previously closed at C$127.98.

Separately, Mizuho raised their price objective 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.

Insider Buying and Selling

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 5,214 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of C$135.62, for a total transaction of C$707,147.04. 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. Over the last 90 days, insiders sold 12,159 shares of company stock worth $1,758,356. Insiders own 0.18% of the company’s stock.

Shopify Trading Up 2.8%

The firm’s 50 day moving average is C$131.61 and its 200 day moving average is C$146.62. The company has a market cap of C$139.80 billion, a PE ratio of 67.96, a PEG ratio of 0.87 and a beta of 2.36. 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.