Shopify Inc. (TSE:SHOP - Get Free Report) shot up 21.5% during trading on Wednesday . The company traded as high as C$214.90 and last traded at C$212.82. 4,168,139 shares traded hands during mid-day trading, an increase of 94% from the average session volume of 2,143,356 shares. The stock had previously closed at C$175.16.
Analyst Ratings Changes
A number of brokerages have commented on SHOP. Royal Bank Of Canada downgraded Shopify from an "outperform" rating to a "sector perform" rating and boosted their target price for the company from C$160.00 to C$220.00 in a research note on Thursday. ATB Capital boosted their target price on Shopify from C$155.00 to C$160.00 and gave the company an "outperform" rating in a research note on Friday, May 9th.
Get Our Latest Stock Analysis on SHOP
Shopify Stock Performance
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 firm has a market cap of C$191.68 billion, a price-to-earnings ratio of 93.18, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The stock has a fifty day moving average price of C$160.73 and a 200 day moving average price of C$150.75.
Insider Buying and Selling at Shopify
In other news, Senior Officer Harley Michael Finkelstein sold 4,955 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of C$149.69, for a total transaction of C$741,716.84. Also, Director Tobyn David Shannan sold 2,442 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$145.16, for a total value of C$354,478.36. Insiders have sold a total of 43,343 shares of company stock worth $6,654,837 in the last 90 days. Company insiders own 0.18% of the company's stock.
Shopify Company Profile
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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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