ATB Capital Downgrades Shopify (TSE:SHOP) to Sector Perform

Shopify (TSE:SHOP) was downgraded by investment analysts at ATB Capital from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They presently have a C$145.00 target price on the stock, up from their prior target price of C$120.00. ATB Capital’s price target points to a potential downside of 5.49% from the stock’s current price.

Separately, National Bankshares raised their price objective on Shopify from C$100.00 to C$140.00 in a research note on Wednesday.

Shopify Price Performance

TSE SHOP opened at C$153.43 on Wednesday. The company has a market cap of C$185.65 billion, a price-to-earnings ratio of 113.75, a PEG ratio of 0.87 and a beta of 2.36. 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 stock’s fifty day moving average price is C$110.29 and its 200 day moving average price is C$96.60. Shopify has a 1 year low of C$72.36 and a 1 year high of C$161.86.

Insiders Place Their Bets

In related news, Senior Officer Harley Michael Finkelstein sold 440 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of C$98.06, for a total transaction of C$43,145.49. Also, Director Tobyn David Shannan sold 424 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$91.85, for a total transaction of C$38,945.52. In the last three months, insiders have sold 36,423 shares of company stock valued at $4,862,258. 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.