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Shopify (TSE:SHOP) Trading Up 21.5% - What's Next?

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Key Points

  • Shopify's share price surged 21.5% during mid-day trading, reaching as high as C$214.90, following an increase in trading volume of 94% compared to the average.
  • ATB Capital has raised their price target for Shopify from C$155.00 to C$160.00 and affirmed an "outperform" rating in their latest report.
  • Recent insider selling activity indicates a total of 43,343 shares were sold in the last ninety days, amounting to approximately $6.65 million, which may raise questions about insider confidence in the stock's future performance.
  • Want stock alerts on Shopify? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Shopify Inc. (TSE:SHOP - Get Free Report) traded up 21.5% during trading on Thursday . The company traded as high as C$214.90 and last traded at C$212.82. 4,168,139 shares were traded during trading, an increase of 94% from the average session volume of 2,143,358 shares. The stock had previously closed at C$175.16.

Analysts Set New Price Targets

SHOP has been the subject of a number of analyst reports. Royal Bank Of Canada lowered Shopify from an "outperform" rating to a "sector perform" rating and upped their target price for the stock from C$160.00 to C$220.00 in a report on Thursday. ATB Capital lifted their price objective on Shopify from C$155.00 to C$160.00 and gave the company an "outperform" rating in a research note on Friday, May 9th.

Get Our Latest Analysis on Shopify

Shopify Price Performance

The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74. The stock's 50-day simple moving average is C$159.48 and its 200 day simple moving average is C$150.41. The company has a market cap of C$190.14 billion, a price-to-earnings ratio of 92.44, a PEG ratio of 0.87 and a beta of 2.36.

Insider Transactions at Shopify

In related news, Senior Officer Harley Michael Finkelstein sold 1,671 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of C$176.24, for a total value of C$294,490.25. Also, Senior Officer Jessica Hertz sold 355 shares of Shopify stock in a transaction dated Monday, July 28th. The stock was sold at an average price of C$176.24, for a total value of C$62,563.76. Over the last three months, insiders sold 43,343 shares of company stock valued at $6,654,837. Corporate insiders own 0.18% of the company's stock.

Shopify Company Profile

(Get Free Report)

Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store, and everywhere in between.

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