Shopify (TSE:SHOP) Price Target Raised to C$159.00

Shopify (TSE:SHOP) had its price objective raised by TD Securities from C$156.00 to C$159.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price target points to a potential downside of 32.21% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada lowered Shopify from an “outperform” rating to a “sector perform” rating and increased their price target for the company from C$160.00 to C$220.00 in a research report on Thursday, August 7th. ATB Capital raised their target price on Shopify from C$220.00 to C$250.00 in a research report on Wednesday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$175.80.

Shopify Price Performance

TSE SHOP traded up C$7.33 during trading on Wednesday, hitting C$234.56. 890,884 shares of the company’s stock were exchanged, compared to its average volume of 1,974,521. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74. The company has a market cap of C$304.85 billion, a PE ratio of 130.31, a P/E/G ratio of 0.87 and a beta of 2.86. Shopify has a fifty-two week low of C$99.32 and a fifty-two week high of C$253.10. The stock’s 50 day moving average price is C$215.14 and its two-hundred day moving average price is C$178.42.

About Shopify

Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store, and everywhere in between.