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Shopify (TSE:SHOP) Stock Price Up 19.5% - Time to 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 share price rose 19.5% during trading on Wednesday . The company traded as high as C$214.90 and last traded at C$209.32. Approximately 1,436,196 shares changed hands during trading, a decline of 32% from the average daily volume of 2,120,983 shares. The stock had previously closed at C$175.16.

Analyst Ratings Changes

Separately, ATB Capital boosted their price objective on Shopify from C$155.00 to C$160.00 and gave the company an "outperform" rating in a report on Friday, May 9th.

Read Our Latest Analysis on Shopify

Shopify Stock Up 20.3%

The business has a 50-day simple moving average of C$157.01 and a two-hundred day simple moving average of C$149.57. 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 has a market capitalization of C$196.22 billion, a P/E ratio of 95.39, a PEG ratio of 0.87 and a beta of 2.36.

Insider Buying and Selling at Shopify

In other news, Senior Officer Jeff Hoffmeister sold 3,985 shares of Shopify stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of C$149.69, for a total transaction of C$596,516.98. Also, Senior Officer Jessica Hertz sold 10,255 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$156.30, for a total transaction of C$1,602,815.48. Insiders sold 43,343 shares of company stock valued at $6,654,837 over the last 90 days. 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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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.

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