Price target for Shopify (TSE:SHOP) raised to 120.00 CAD

Shopify (TSE:SHOP – Get Free Report) ATB Capital raised its price target from CAD$115.00 to CAD$120.00 in a report published on Thursday, BayStreet.CA reports. ATB Capital’s price target suggests a potential upside of 26.14% from the company’s current price.

Shopify shares rise 1.0%

Shares of TSE:SHOP opened at C$95.13 on Thursday. The stock has a 50-day moving average of C$87.15 and a 200-day moving average of C$95.35. The stock has a market cap of C$115.11 billion, a P/E ratio of -432.41, a PEG ratio of 1.09 and a beta of 2.20. Shopify has a 1-year low of C$63.16 and a 1-year high of C$123.20. The company has a debt-to-equity ratio of 12.87, a quick ratio of 5.74 and a current ratio of 7.14.

Insiders place their bets

In other Shopify news, Senior Officer Kasra Nejatian sold 48,387 shares of the company’s stock in a transaction that occurred on Thursday, August 8. The shares were sold at an average price of C$64.84, for a total value of C$3,137,413.08. In other Shopify news, Senior Officer Kasra Nejatian sold 48,387 shares of the company’s stock in a transaction that occurred on Thursday, August 8. The shares were sold at an average price of C$64.84, for a total value of C$3,137,413.08. Also, Senior Officer Harley Michael Finkelstein sold 3,294 shares of the company’s stock in a transaction that occurred on Friday, May 24. The shares were sold at an average price of C$57.19, for a total transaction of C$188,396.71. Insiders have sold a total of 60,956 shares of the company’s stock valued at $3,894,478 in the last ninety days. 0.19% of the shares are owned by company insiders.

Shopify Company Profile

(Get free report)

Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, Asia Pacific, Australia, China, and Latin America. The Company’s platform enables merchants to display, manage, market, and sell their 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. It enables managing products and inventory, processing orders and payments, fulfilling and shipping orders, acquiring new buyers and building customer relationships, sourcing products, using analytics and reports, managing cash, payments and transactions, and accessing financing.