Shopify (TSE:SHOP) Shares Up 21.5% - Still a Buy?

Key Points

• Shopify's stock surged 21.5% on Thursday, trading as high as C$214.90 and closing at C$212.82, with over 4 million shares traded, indicating significant market activity.
• ATB Capital raised their target price for Shopify from C$155.00 to C$160.00, affirming an "outperform" rating in their latest research report.
• Insider trading activity revealed that directors sold a total of 43,343 shares valued at approximately $6.65 million in the last 90 days, with insiders owning just 0.18% of the company.

Shopify Inc. (TSE:SHOP - Get Free Report) shares traded 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.

Analysts Set New Price Targets

SHOP has been the subject of a number of analyst reports. ATB Capital increased their target price on shares of 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 cut shares of Shopify from an "outperform" rating to a "sector perform" rating and increased their target price for the company from C$160.00 to C$220.00 in a research report on Thursday.

Shopify Price Performance

The stock has a market cap of C$191.46 billion, a price-to-earnings ratio of 93.07, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The stock's 50 day moving average price is C$160.73 and its two-hundred day moving average price is C$150.75. The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74.

Insider Activity

In other Shopify news, Senior Officer Jeff Hoffmeister sold 1,913 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of C$176.24, for a total transaction of C$337,139.35. Also, Senior Officer Jessica Hertz sold 355 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of C$176.24, for a total transaction of C$62,563.76. Insiders have sold a total of 43,343 shares of company stock worth $6,654,837 in the last ninety days. Corporate 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.