Shopify (TSE:SHOP) Shares Up 11.1% Following Analyst Upgrade

Shares of Shopify Inc. (TSE:SHOP - Get Free Report) traded up 11.1% during 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$142.18. 855,397 shares were traded during trading, a decline of 63% from the average session volume of 2,312,321 shares. The stock had previously closed at C$127.98.

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

Insider Activity

In other Shopify news, Director Tobyn David Shannan sold 430 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of C$135.62, for a total transaction of C$58,318.61. Also, Senior Officer Jessica Hertz sold 10,255 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$156.30, for a total transaction of C$1,602,815.48. In the last three months, insiders have sold 22,414 shares of company stock valued at $3,361,172. Company insiders own 0.18% of the company's stock.

Shopify Price Performance

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 company has a market capitalization of C$144.27 billion, a PE ratio of 70.13, a P/E/G ratio of 0.87 and a beta of 2.36. The company's 50-day simple moving average is C$132.67 and its 200-day simple moving average is C$147.27.

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.