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

Shares of Shopify Inc. (TSE:SHOP - Get Free Report) rose 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. Approximately 1,676,593 shares traded hands during trading, a decline of 28% from the average daily volume of 2,325,656 shares. The stock had previously closed at C$127.98.

Separately, Mizuho lifted their price objective on Shopify from C$105.00 to C$110.00 and gave the company a "hold" rating in a report on Wednesday, February 12th.

Insider Activity

In related news, 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. Also, Senior Officer Kasra Nejatian sold 50,000 shares of Shopify stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of C$172.76, for a total value of C$8,637,893.55. Over the last 90 days, insiders sold 62,159 shares of company stock worth $10,396,250. Insiders own 0.18% of the company's stock.

Shopify Stock Up 12.3%

The firm's 50-day simple moving average is C$131.67 and its 200 day simple moving average is C$146.34. The company has a market cap of C$133.87 billion, a P/E ratio of 65.08, a PEG ratio of 0.87 and a beta of 2.36. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71.

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.

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