Shopify (TSE:SHOP) Rating Increased to Outperform at ATB Capital

ATB Capital upgraded shares of Shopify (TSE:SHOP) from a sector perform rating to an outperform rating in a research note published on Tuesday,BayStreet.CA reports. ATB Capital currently has C$250.00 price target on the stock.

Separately, TD Securities lifted their price target on Shopify from C$156.00 to C$159.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$184.75.

Shopify Price Performance

TSE SHOP opened at C$172.54 on Tuesday. The company has a quick ratio of 5.74, a current ratio of 3.71 and a debt-to-equity ratio of 9.74. The company has a market cap of C$225.18 billion, a PE ratio of 126.87, a price-to-earnings-growth 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 firm’s 50-day simple moving average is C$210.77 and its two-hundred day simple moving average is C$209.65.

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