Shopify (TSE:SHOP) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Shopify (TSE:SHOP) had its price objective hoisted by equities researchers at ATB Cormark Capital Markets from C$240.00 to C$260.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective would suggest a potential upside of 26.53% from the stock’s previous close.

Separately, TD boosted their target price on shares of Shopify from C$159.00 to C$175.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$203.50.

Shopify Trading Up 1.7%

TSE:SHOP traded up C$3.51 during mid-day trading on Thursday, reaching C$205.48. The company’s stock had a trading volume of 1,595,376 shares, compared to its average volume of 2,066,368. The company’s fifty day simple moving average is C$165.57 and its two-hundred day simple moving average is C$165.45. The company has a debt-to-equity ratio of 1.43, a current ratio of 6.20 and a quick ratio of 5.74. Shopify has a twelve month low of C$129.01 and a twelve month high of C$253.10. The stock has a market cap of C$266.64 billion, a P/E ratio of 201.45, a P/E/G ratio of 0.87 and a beta of 2.28.

Shopify (TSE:SHOP) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C($0.63) EPS for the quarter. The company had revenue of C$4.41 billion for the quarter. Shopify had a net margin of 10.94% and a return on equity of 10.70%. On average, equities analysts predict that Shopify will post 1.9256156 EPS for the current year.

About Shopify

Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between. Millions of businesses in 175+ countries use Shopify-from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.