Shopify (TSE:SHOP) Trading Up 11.1% on Analyst Upgrade

Shares of Shopify Inc. (TSE:SHOP - Get Free Report) traded up 11.1% 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$142.18. 855,397 shares changed hands during trading, a decline of 63% from the average session volume of 2,312,321 shares. The stock had previously closed at C$127.98.

Separately, Mizuho upped their price objective on shares of Shopify from C$105.00 to C$110.00 and gave the company a "hold" rating in a report on Wednesday, February 12th.

Insider Buying and Selling at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 1,711 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$158.03, for a total value of C$270,390.18. Also, Director Tobyn David Shannan sold 430 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of C$135.62, for a total transaction of C$58,318.61. Insiders have sold a total of 22,414 shares of company stock worth $3,361,172 over the last ninety days. Insiders own 0.18% of the company's stock.

Shopify Stock Down 1.2%

The company has a market cap of C$143.36 billion, a P/E ratio of 69.69, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The firm's 50 day moving average price is C$131.85 and its two-hundred day moving average price is C$146.68. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71.

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.