Shopify (TSE:SHOP) Shares Up 14.3% Following Analyst Upgrade

Shopify Inc. (TSE:SHOP - Get Free Report) was up 14.3% 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$146.22. Approximately 2,300,264 shares changed hands during trading, a decline of 2% from the average daily volume of 2,335,588 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.

Insiders Place Their Bets

In related news, Senior Officer Jessica Hertz sold 10,255 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$156.30, for a total value of C$1,602,815.48. Also, Senior Officer Harley Michael Finkelstein sold 3,104 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$158.59, for a total transaction of C$492,263.81. In the last 90 days, insiders sold 22,414 shares of company stock worth $3,361,172. Corporate insiders own 0.18% of the company's stock.

Shopify Trading Up 0.6%

The firm has a market capitalization of C$144.27 billion, a price-to-earnings ratio of 70.13, a P/E/G ratio of 0.87 and a beta of 2.36. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74. The firm'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.