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

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

Several other equities analysts have also recently commented on SHOP. National Bankshares increased their target price on Shopify from C$100.00 to C$140.00 in a research note on Wednesday, November 13th. ATB Capital cut Shopify from an “outperform” rating to a “sector perform” rating and raised their target price for the company from C$120.00 to C$145.00 in a research note on Wednesday, November 13th.

Shopify Price Performance

Shares of Shopify stock traded down C$2.26 on Wednesday, hitting C$174.31. The company’s stock had a trading volume of 1,186,759 shares, compared to its average volume of 1,782,752. The company has a market capitalization of C$210.92 billion, a P/E ratio of 127.23, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The company has a quick ratio of 5.74, a current ratio of 7.32 and a debt-to-equity ratio of 12.40. The firm has a fifty day moving average price of C$159.70 and a 200-day moving average price of C$128.72. Shopify has a 52-week low of C$72.36 and a 52-week high of C$179.85.

Insider Activity

In related news, Senior Officer Jessica Hertz sold 4,963 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of C$167.08, for a total value of C$829,193.57. Also, Director Tobyn David Shannan sold 433 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$163.19, for a total value of C$70,661.92. Over the last ninety days, insiders have sold 15,690 shares of company stock worth $2,528,379. Company 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.