Shopify (TSE:SHOP) Downgraded to Sector Perform Rating by ATB Capital

ATB Capital cut shares of Shopify (TSE:SHOP) from an outperform rating to a sector perform rating in a research report report published on Wednesday morning,BayStreet.CA reports. ATB Capital currently has C$145.00 target price on the stock, up from their prior target price of C$120.00.

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

Shopify Stock Performance

TSE SHOP opened at C$161.20 on Wednesday. The stock has a market capitalization of C$195.05 billion, a price-to-earnings ratio of 115.07, a PEG ratio of 0.87 and a beta of 2.36. The stock has a 50-day moving average of C$108.96 and a 200 day moving average of C$96.14. The company has a current ratio of 7.32, a quick ratio of 5.74 and a debt-to-equity ratio of 12.40. Shopify has a twelve month low of C$72.36 and a twelve month high of C$161.86.

Insider Transactions at Shopify

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 426 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 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 that occurred on Monday, October 28th. The stock was sold at an average price of C$110.63, for a total transaction of C$47,130.08. Insiders sold 9,751 shares of company stock valued at $852,555 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

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.