Shopify (TSE:SHOP) Shares Up 21.5% - What's Next?

Key Points

• Shopify's share price surged by 21.5% reaching a high of C$214.90 during trading, substantially increasing trading volume to approximately 4.17 million shares.
• ATB Capital raised their price target for Shopify from C$155.00 to C$160.00 and assigned an "outperform" rating.
• Recent insider transactions revealed that executives sold a total of 43,343 shares over the last 90 days, valued at approximately C$6.65 million.

Shares of Shopify Inc. (TSE:SHOP - Get Free Report) shot up 21.5% on Thursday . The stock traded as high as C$214.90 and last traded at C$212.82. 4,168,139 shares changed hands during mid-day trading, an increase of 94% from the average session volume of 2,143,358 shares. The stock had previously closed at C$175.16.

Analyst Ratings Changes

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

Shopify Stock Performance

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 company has a market cap of C$191.68 billion, a P/E ratio of 93.18, a P/E/G ratio of 0.87 and a beta of 2.36. The business has a fifty day moving average of C$160.73 and a 200 day moving average of C$150.78.

Insider Activity at Shopify

In related news, Director Tobyn David Shannan sold 2,442 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$145.16, for a total transaction of C$354,478.36. Also, Director Robert Gerard Ashe sold 2,800 shares of the company's 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$406,445.30. Insiders have sold 43,343 shares of company stock valued at $6,654,837 over the last 90 days. Company insiders own 0.18% of the company's stock.

Shopify Company Profile

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.