Guggenheim cut shares of Shopify (TSE:SHOP) from a buy rating to a neutral rating in a research report released on Monday, BayStreet.CA reports.

Several other research firms have also commented on SHOP. Mackie lifted their price objective on shares of Shopify from C$210.00 to C$280.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their price objective on shares of Shopify from C$230.00 to C$265.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st.

TSE SHOP opened at C$355.01 on Monday. The company has a quick ratio of 11.78, a current ratio of 12.57 and a debt-to-equity ratio of 4.89. The firm has a market cap of $38.04 billion and a price-to-earnings ratio of -525.94. Shopify has a 52 week low of C$159.25 and a 52 week high of C$358.60.

In other Shopify news, Director Robert Gerard Ashe sold 462 shares of Shopify stock in a transaction on Friday, May 10th. The shares were sold at an average price of C$335.37, for a total transaction of C$154,940.59. Following the completion of the transaction, the director now directly owns 29,199 shares of the company’s stock, valued at C$9,792,446.21.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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