Shopify (TSE:SHOP) Price Target Raised to C$237.00

Shopify (TSE:SHOP) had its target price increased by ATB Cormark Capital Markets from C$234.00 to C$237.00 in a research note released on Wednesday,BayStreet reports. ATB Cormark Capital Markets currently has a sector perform rating on the stock.

Separately, TD lifted their price objective on shares of Shopify from C$159.00 to C$175.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$206.00.

Shopify Trading Up 4.6%

SHOP stock traded up C$9.24 during midday trading on Wednesday, reaching C$210.47. The company’s stock had a trading volume of 1,957,749 shares, compared to its average volume of 2,042,803. Shopify has a 1 year low of C$129.01 and a 1 year high of C$255.95. The firm has a market capitalization of C$270.77 billion, a price-to-earnings ratio of 129.12, a PEG ratio of 0.87 and a beta of 2.04. The stock has a fifty day simple moving average of C$214.11 and a two-hundred day simple moving average of C$180.69. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.74 and a current ratio of 4.86.

Shopify Company Profile

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.