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

Shopify (TSE:SHOP) was downgraded by ATB Capital from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday,BayStreet.CA reports. They presently have a C$145.00 price target on the stock, up from their previous price target of C$120.00. ATB Capital’s price target would suggest a potential downside of 5.49% from the company’s current price.

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

Shopify Trading Down 4.8 %

Shares of Shopify stock opened at C$153.43 on Wednesday. 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 twelve month low of C$72.36 and a twelve month high of C$161.86. The firm has a market capitalization of C$185.65 billion, a PE ratio of 113.75, a P/E/G ratio of 0.87 and a beta of 2.36. The firm’s 50-day moving average price is C$110.29 and its 200 day moving average price is C$96.60.

Insider Buying and Selling at Shopify

In other Shopify news, Senior Officer Jessica Hertz sold 26,672 shares of the firm’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, Senior Officer Harley Michael Finkelstein sold 426 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of C$110.63, for a total transaction of C$47,130.08. In the last quarter, insiders sold 36,423 shares of company stock worth $4,862,258. 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.