Shopify (TSE:SHOP) PT Raised to C$2,500.00

Shopify (TSE:SHOP) had its price target upped by equities researchers at National Bank Financial to C$2,500.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 24.86% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada lifted their target price on Shopify to C$2,103.00 and gave the stock an “outperform” rating in a report on Wednesday, June 30th. National Bankshares boosted their price target on Shopify from C$1,569.36 to C$2,000.00 and gave the company an “outperform” rating in a report on Thursday. Five analysts have rated the stock with a buy rating, Shopify presently has an average rating of “Buy” and a consensus price target of C$2,078.60.

Shares of Shopify stock traded up C$30.16 on Thursday, reaching C$2,002.17. 146,976 shares of the stock were exchanged, compared to its average volume of 178,900. The company has a debt-to-equity ratio of 11.80, a current ratio of 17.13 and a quick ratio of 16.35. Shopify has a twelve month low of C$1,109.41 and a twelve month high of C$2,014.35. The company has a market capitalization of C$249.04 billion and a price-to-earnings ratio of 124.19. The company has a 50 day simple moving average of C$1,659.87.

In other news, Senior Officer Joseph Andrew Frasca sold 258 shares of the business’s stock in a transaction that occurred on Tuesday, May 25th. The stock was sold at an average price of C$1,643.53, for a total value of C$424,032.01. Following the completion of the sale, the insider now directly owns 234 shares in the company, valued at C$384,587.17. Also, Director Robert Gerard Ashe sold 209 shares of the business’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of C$1,392.79, for a total value of C$291,093.82. Following the completion of the sale, the director now owns 9,772 shares of the company’s stock, valued at C$13,610,376.91.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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