Shopify (TSE:SHOP – Get Free Report) had its price target hoisted by stock analysts at Royal Bank of Canada from C$75.00 to C$80.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 3.20% from the company’s current price.
Separately, ATB Capital boosted their target price on Shopify from C$90.00 to C$95.00 and gave the stock an “outperform” rating in a research report on Thursday.
Shopify Price Performance
TSE:SHOP opened at C$77.52 on Thursday. The company has a current ratio of 6.71, a quick ratio of 5.74 and a debt-to-equity ratio of 16.54. The company has a market capitalization of C$93.02 billion, a P/E ratio of -40.59, a P/E/G ratio of 1.83 and a beta of 2.04. Shopify has a 12 month low of C$33.00 and a 12 month high of C$93.83. The business’s 50-day moving average is C$84.53 and its 200 day moving average is C$72.07.
Shopify Company Profile
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
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