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Shopify (TSE:SHOP) Trading Up 21.5% - Should You Buy?

Shopify logo with Computer and Technology background

Key Points

  • Shopify's shares surged 21.5% during mid-day trading, reaching a high of C$214.90 and last trading at C$212.82.
  • ATB Capital raised their price target for Shopify from C$155.00 to C$160.00 and assigned an "outperform" rating.
  • Insiders have sold a total of 43,343 shares valued at approximately $6.65 million over the past three months.
  • Want stock alerts on Shopify? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

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

(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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