Shopify (TSE:SHOP) Rating Lowered to Sector Perform at ATB Capital

ATB Capital lowered shares of Shopify (TSE:SHOP) from an outperform rating to a sector perform rating in a research note issued to investors on Wednesday morning,BayStreet.CA reports. ATB Capital currently has C$145.00 price objective on the stock, up from their previous price objective of C$120.00.

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

Shopify Trading Down 0.4 %

TSE SHOP opened at C$152.87 on Wednesday. The stock has a market cap of C$184.97 billion, a P/E ratio of 111.58, a PEG ratio of 0.87 and a beta of 2.36. The company’s fifty day simple moving average is C$112.70 and its 200-day simple moving average is C$97.37. 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 52 week low of C$72.36 and a 52 week high of C$161.86.

Insider Buying and Selling at Shopify

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 3,319 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$75.63, for a total value of C$251,027.59. Also, Director Tobyn David Shannan sold 424 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of C$91.85, for a total transaction of C$38,945.52. In the last 90 days, insiders sold 38,423 shares of company stock worth $5,165,889. Insiders own 0.18% of the company’s stock.

About Shopify

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.