Shopify (TSE:SHOP) Price Target Raised to C$260.00

Shopify (TSE:SHOP) had its target price upped by ATB Cormark Capital Markets from C$240.00 to C$260.00 in a report issued on Thursday morning,BayStreet.CA reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Separately, TD lifted their target price on shares of Shopify from C$159.00 to C$175.00 and gave the stock a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of C$198.00.

Shopify Trading Up 2.4%

Shares of SHOP opened at C$211.37 on Thursday. Shopify has a fifty-two week low of C$129.01 and a fifty-two week high of C$253.10. The firm has a market cap of C$274.29 billion, a price-to-earnings ratio of 207.23, a PEG ratio of 0.87 and a beta of 2.28. The firm has a 50 day moving average price of C$167.47 and a 200-day moving average price of C$165.70. The company has a debt-to-equity ratio of 1.43, a quick ratio of 5.74 and a current ratio of 6.20.

Shopify Company Profile

Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between. Millions of businesses in 175+ countries use Shopify-from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.