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

Shares of Shopify Inc. (TSE:SHOP) traded 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 mid-day 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 boosted their price target on shares of Shopify from C$105.00 to C$110.00 and gave the company a “hold” rating in a report on Wednesday, February 12th.

Insider Buying and Selling

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

Shopify Stock Performance

The stock’s 50 day moving average price is C$131.67 and its 200 day moving average price is C$146.34. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74. The company has a market capitalization of C$133.87 billion, a price-to-earnings ratio of 65.08, a P/E/G ratio of 0.87 and a beta of 2.36.

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.