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Shopify (TSE:SHOP) Stock Price Up 21.5% - Still a Buy?

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Key Points

  • Shopify's stock price increased by 21.5% on Thursday, reaching a high of C$214.90 before closing at C$212.82, significantly up from C$175.16.
  • ATB Capital upgraded Shopify's price target from C$155.00 to C$160.00, maintaining an "outperform" rating for the stock.
  • In recent insider transactions, senior officers sold a total of 43,343 shares worth approximately $6.65 million over the last 90 days.
  • 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) was up 21.5% on Thursday . The stock traded as high as C$214.90 and last traded at C$212.82. Approximately 4,168,139 shares traded hands during trading, an increase of 94% from the average daily volume of 2,143,358 shares. The stock had previously closed at C$175.16.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank Of Canada downgraded Shopify from an "outperform" rating to a "sector perform" rating and upped their price objective for the company from C$160.00 to C$220.00 in a research report on Thursday. ATB Capital upped their price objective on Shopify from C$155.00 to C$160.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th.

Check Out Our Latest Stock Report on Shopify

Shopify Stock Performance

The stock has a 50-day moving average of C$160.73 and a 200 day moving average of C$150.75. 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 cap of C$191.46 billion, a PE ratio of 93.07, a P/E/G ratio of 0.87 and a beta of 2.36.

Insider Transactions at Shopify

In related news, Senior Officer Jessica Hertz sold 355 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of C$176.24, for a total value of C$62,563.76. Also, Senior Officer Harley Michael Finkelstein sold 1,671 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of C$176.24, for a total value of C$294,490.25. Insiders sold a total of 43,343 shares of company stock valued at $6,654,837 over the last quarter. 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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