Shopify (TSE:SHOP) Upgraded by ATB Capital to “Outperform” Rating

Shopify (TSE:SHOP) was upgraded by equities research analysts at ATB Capital from a “sector perform” rating to an “outperform” rating in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a C$250.00 price target on the stock. ATB Capital’s target price points to a potential upside of 46.16% from the company’s previous close.

Separately, TD Securities lifted their target price on Shopify from C$156.00 to C$159.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. 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.com, Shopify has an average rating of “Hold” and an average target price of C$184.75.

Shopify Stock Performance

Shopify stock traded up C$10.40 during midday trading on Tuesday, reaching C$171.04. 1,497,195 shares of the company’s stock were exchanged, compared to its average volume of 1,892,668. The company has a debt-to-equity ratio of 9.74, a quick ratio of 5.74 and a current ratio of 3.71. The firm has a market cap of C$223.22 billion, a price-to-earnings ratio of 125.76, a P/E/G ratio of 0.87 and a beta of 2.12. Shopify has a 52 week low of C$99.32 and a 52 week high of C$253.10. The stock’s 50-day simple moving average is C$211.71 and its 200 day simple moving average is C$209.64.

Shopify (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.20 earnings per share (EPS) for the quarter. The business had revenue of C$3.96 billion during the quarter. Shopify had a return on equity of 20.32% and a net margin of 22.74%. On average, analysts expect that Shopify will post 1.9256156 earnings per share for the current fiscal year.

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. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as BarkBox, Vuori, BevMo, Carrier, JB Hi-Fi, Meta, ButcherBox, SKIMS, Supreme, and many more.