Shopify (TSE:SHOP) Price Target Raised to C$175.00

Shopify (TSE:SHOP) had its price objective boosted by TD from C$159.00 to C$175.00 in a research note released on Thursday morning,BayStreet.CA reports. TD currently has a buy rating on the stock.

Separately, ATB Cormark Capital Markets reduced their price objective on Shopify from C$250.00 to C$240.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of C$198.00.

Shopify Trading Up 2.4%

Shares of Shopify stock opened at C$211.37 on Thursday. The company’s fifty day simple moving average is C$167.47 and its 200-day simple moving average is C$165.70. The stock has a market capitalization of C$274.29 billion, a PE ratio of 207.23, a P/E/G ratio of 0.87 and a beta of 2.28. Shopify has a 1-year low of C$129.01 and a 1-year high of C$253.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 6.20 and a quick ratio of 5.74.

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.