Shopify (TSE:SHOP) Stock Price Up 11.1% After Analyst Upgrade

Shares of Shopify Inc. (TSE:SHOP - Get Free Report) traded up 11.1% during mid-day 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 were traded 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 boosted their price target on shares of 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 other Shopify news, Senior Officer Harley Michael Finkelstein sold 3,104 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of C$158.59, for a total value of C$492,263.81. Also, Senior Officer Jessica Hertz sold 10,255 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$156.30, for a total transaction of C$1,602,815.48. In the last three months, insiders have sold 22,414 shares of company stock worth $3,361,172. 0.18% of the stock is currently owned by corporate insiders.

Shopify Price Performance

The stock's 50-day moving average is C$132.67 and its 200 day moving average is C$147.27. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74. The company has a market cap of C$144.27 billion, a PE ratio of 70.13, a PEG ratio of 0.87 and a beta of 2.36.

Shopify Company Profile

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.