Shopify (TSE:SHOP) Trading Up 12.2% After Analyst Upgrade

Shares of Shopify Inc. (TSE:SHOP - Get Free Report) traded up 12.2% 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 changed hands 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 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 1,700 shares of the firm's 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. Also, Director Tobyn David Shannan sold 430 shares of Shopify stock in a transaction dated Monday, March 10th. The stock was sold at an average price of C$135.62, for a total value of C$58,318.61. Insiders have sold 22,414 shares of company stock worth $3,361,172 in the last 90 days. Insiders own 0.18% of the company's stock.

Shopify Trading Up 0.6%

The company has a 50 day moving average of C$132.67 and a two-hundred day moving average of C$147.27. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71. The stock has a market cap of C$144.27 billion, a PE ratio of 70.13, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

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.