Mizuho Boosts Shopify (TSE:SHOP) Price Target to C$110.00

Shopify (TSE:SHOP) had its target price increased by research analysts at Mizuho from C$105.00 to C$110.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Mizuho’s price objective would indicate a potential downside of 36.89% from the stock’s current price.

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

Shopify Price Performance

SHOP stock traded down C$2.26 during midday trading on Wednesday, reaching C$174.31. 1,186,759 shares of the stock were exchanged, compared to its average volume of 1,782,752. The stock has a market capitalization of C$210.92 billion, a PE ratio of 127.23, a P/E/G ratio of 0.87 and a beta of 2.36. Shopify has a 52 week low of C$72.36 and a 52 week high of C$179.85. The company has a debt-to-equity ratio of 12.40, a current ratio of 7.32 and a quick ratio of 5.74. The company has a fifty day moving average price of C$159.70 and a 200 day moving average price of C$128.72.

Insider Transactions at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 394 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of C$160.56, for a total value of C$63,261.55. Also, Director Colleen Johnston sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$151.82, for a total value of C$303,631.60. Insiders sold a total of 15,690 shares of company stock valued at $2,528,379 over the last ninety days. 0.18% of the stock is currently owned by 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.