ATB Capital Downgrades Shopify (TSE:SHOP) to Sector Perform

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

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

Shopify Stock Performance

TSE:SHOP opened at C$152.87 on Wednesday. The company has a market cap of C$184.97 billion, a price-to-earnings ratio of 111.58, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The company has a quick ratio of 5.74, a current ratio of 7.32 and a debt-to-equity ratio of 12.40. Shopify has a 52 week low of C$72.36 and a 52 week high of C$161.86. The company has a fifty day simple moving average of C$112.70 and a two-hundred day simple moving average of C$97.37.

Insider Buying and Selling at Shopify

In other news, Senior Officer Jessica Hertz sold 26,672 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of C$150.33, for a total value of C$4,009,702.63. Also, Director Colleen Johnston sold 2,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$151.82, for a total transaction of C$303,631.60. Over the last quarter, insiders sold 38,423 shares of company stock valued at $5,165,889. 0.18% of the stock is owned by company 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.