Mizuho Issues Positive Forecast for Shopify (TSE:SHOP) Stock Price

Shopify (TSE:SHOP) had its price objective boosted by Mizuho from C$105.00 to C$110.00 in a report released on Wednesday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

Other analysts have also issued reports about the stock. ATB Capital lowered shares of Shopify from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$120.00 to C$145.00 in a research note on Wednesday, November 13th. National Bankshares boosted their target price on shares of Shopify from C$100.00 to C$140.00 in a research note on Wednesday, November 13th.

Shopify Trading Down 2.5 %

SHOP stock opened at C$172.08 on Wednesday. The stock has a market capitalization of C$208.22 billion, a price-to-earnings ratio of 125.61, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. Shopify has a twelve month low of C$72.36 and a twelve month high of C$179.85. The company has a quick ratio of 5.74, a current ratio of 7.32 and a debt-to-equity ratio of 12.40. The firm’s fifty day simple moving average is C$159.70 and its two-hundred day simple moving average is C$128.72.

Insider Buying and Selling

In related news, Senior Officer Harley Michael Finkelstein sold 4,951 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$163.19, for a total value of C$807,961.18. Also, Senior Officer Jessica Hertz sold 4,963 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of C$167.08, for a total transaction of C$829,193.57. Insiders sold a total of 13,690 shares of company stock valued at $2,224,747 over the last three months. 0.18% of the stock is owned by company insiders.

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.