National Bankshares Boosts Shopify (TSE:SHOP) Price Target to C$140.00

Shopify (TSE:SHOP) had its price target upped by equities researchers at National Bankshares from C$100.00 to C$140.00 in a note issued to investors on Wednesday,BayStreet.CA reports. National Bankshares’ target price suggests a potential downside of 8.75% from the stock’s previous close.

Separately, ATB Capital increased their price objective on Shopify from C$115.00 to C$120.00 in a research report on Thursday, August 8th.

Shopify Stock Performance

SHOP stock opened at C$153.43 on Wednesday. The stock’s 50 day simple moving average is C$110.29 and its 200 day simple moving average is C$96.60. The company has a current ratio of 7.32, a quick ratio of 5.74 and a debt-to-equity ratio of 12.40. Shopify has a 12-month low of C$72.36 and a 12-month high of C$161.86. The stock has a market capitalization of C$185.65 billion, a PE ratio of 113.75, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insiders Place Their Bets

In other Shopify news, Senior Officer Jessica Hertz sold 26,672 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of C$150.33, for a total transaction of C$4,009,702.63. Also, Senior Officer Harley Michael Finkelstein sold 426 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of C$110.63, for a total transaction of C$47,130.08. In the last quarter, insiders sold 36,423 shares of company stock valued at $4,862,258. Company insiders own 0.18% of the company’s stock.

Shopify Company Profile

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.