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Shopify (TSE:SHOP) Shares Up 19.5% - Should You Buy?

Shopify logo with Computer and Technology background

Key Points

  • Shopify's stock price surged by 19.5% during trading on Wednesday, reaching a last traded price of C$209.32.
  • Analysts at ATB Capital raised their price target for Shopify from C$155.00 to C$160.00 and gave the stock an "outperform" rating.
  • Insider trading activity included significant sales, with a total of 43,343 shares sold by insiders over the last 90 days, valued at around $6.65 million.
  • Looking to export and analyze Shopify data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Shopify Inc. (TSE:SHOP - Get Free Report)'s stock price traded up 19.5% during trading on Wednesday . The company traded as high as C$214.90 and last traded at C$209.32. 1,436,196 shares were traded during mid-day trading, a decline of 32% from the average session volume of 2,120,983 shares. The stock had previously closed at C$175.16.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SHOP shares. ATB Capital boosted their price target on shares of Shopify from C$155.00 to C$160.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Royal Bank Of Canada cut shares of Shopify from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from C$160.00 to C$220.00 in a report on Thursday.

Get Our Latest Analysis on SHOP

Shopify Stock Performance

The stock's 50-day moving average price is C$160.73 and its 200-day moving average price is C$150.75. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74. The company has a market capitalization of C$191.68 billion, a P/E ratio of 93.18, a P/E/G ratio of 0.87 and a beta of 2.36.

Insider Buying and Selling

In other news, Senior Officer Jeff Hoffmeister sold 3,985 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of C$149.69, for a total value of C$596,516.98. Also, Director Robert Gerard Ashe sold 2,800 shares of Shopify stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of C$145.16, for a total transaction of C$406,445.30. In the last 90 days, insiders sold 43,343 shares of company stock worth $6,654,837. Company insiders own 0.18% of the company's stock.

About Shopify

(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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