Shopify (TSE:SHOP) Stock Price Up 14.3% on Analyst Upgrade

Shopify Inc. (TSE:SHOP - Get Free Report) shares rose 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 were traded during mid-day 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 boosted their price objective on Shopify from C$105.00 to C$110.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th.

Insider Activity

In related news, Senior Officer Harley Michael Finkelstein sold 3,104 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$158.59, for a total transaction of C$492,263.81. Also, Senior Officer Kasra Nejatian sold 50,000 shares of the stock in a transaction that occurred on 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. Insiders have sold a total of 62,159 shares of company stock valued at $10,396,250 in the last quarter. Insiders own 0.18% of the company's stock.

Shopify Stock Up 14.6%

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 business has a 50-day simple moving average of C$131.67 and a two-hundred day simple moving average of C$146.34. The company has a market capitalization of C$136.60 billion, a price-to-earnings ratio of 66.41, a PEG 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.