Shopify (TSE:SHOP) Lowered to “Sector Perform” Rating by ATB Capital

Shopify (TSE:SHOP) was downgraded by equities research analysts at ATB Capital from an “outperform” rating to a “sector perform” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$145.00 target price on the stock, up from their previous target price of C$120.00. ATB Capital’s price objective would indicate a potential downside of 8.02% from the stock’s current price.

Separately, National Bankshares lifted their target price on Shopify from C$100.00 to C$140.00 in a research note on Wednesday.

Shopify Price Performance

Shares of Shopify stock traded up C$5.39 during trading on Wednesday, hitting C$157.65. The stock had a trading volume of 1,769,448 shares, compared to its average volume of 2,638,283. The business has a fifty day moving average of C$108.96 and a two-hundred day moving average of C$96.14. Shopify has a fifty-two week low of C$72.36 and a fifty-two week high of C$159.55. The firm has a market cap of C$190.76 billion, a P/E ratio of 115.07, a PEG ratio of 0.87 and a beta of 2.36. The company has a debt-to-equity ratio of 12.40, a current ratio of 7.32 and a quick ratio of 5.74.

Insider Buying and Selling

In other news, Senior Officer Harley Michael Finkelstein sold 426 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of C$110.63, for a total transaction of C$47,130.08. In other Shopify news, Director Tobyn David Shannan sold 424 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of C$91.85, for a total value of C$38,945.52. Also, Senior Officer Harley Michael Finkelstein sold 426 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of C$110.63, for a total value of C$47,130.08. Insiders have sold a total of 9,751 shares of company stock valued at $852,555 over the last three months. 0.18% of the stock is owned by corporate insiders.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its 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; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.