Brokerages Set Shopify Inc (TSE:SHOP) PT at C$292.80

Shopify Inc (TSE:SHOP) has earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$292.80.

Several research firms have recently weighed in on SHOP. Roth Capital cut shares of Shopify from a “buy” rating to a “neutral” rating and increased their price target for the company from C$275.00 to C$300.00 in a research note on Monday, June 24th. Robert W. Baird increased their price target on shares of Shopify from C$370.00 to C$410.00 and gave the company an “outperform” rating in a research note on Monday, September 9th.

Shares of Shopify stock traded up C$7.74 during mid-day trading on Friday, hitting C$438.98. The stock had a trading volume of 106,540 shares, compared to its average volume of 323,137. The firm has a 50-day moving average of C$460.12 and a two-hundred day moving average of C$396.65. Shopify has a 12-month low of C$159.25 and a 12-month high of C$543.76. The company has a quick ratio of 10.65, a current ratio of 11.44 and a debt-to-equity ratio of 5.30. The firm has a market cap of $49.94 billion and a P/E ratio of -618.73.

In related news, Senior Officer Joseph Andrew Frasca sold 252 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of C$508.17, for a total transaction of C$128,058.28. Following the completion of the transaction, the insider now owns 1,905 shares of the company’s stock, valued at approximately C$968,059.64.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Analyst Recommendations for Shopify (TSE:SHOP)

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