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

Shopify (TSE:SHOP) had its target price raised by ATB Capital from C$220.00 to C$250.00 in a research note issued on Wednesday,BayStreet.CA reports. ATB Capital’s price target would suggest a potential upside of 6.58% from the company’s previous close.

Separately, Royal Bank Of Canada lowered Shopify from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from C$160.00 to C$220.00 in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$175.80.

Shopify Price Performance

Shares of 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 market cap of C$304.85 billion, a price-to-earnings ratio of 130.31, a PEG ratio of 0.87 and a beta of 2.86. Shopify has a 52-week low of C$99.32 and a 52-week high of C$253.10. The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74. The business’s 50-day simple moving average is C$215.14 and its 200 day simple moving average 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.