Shopify (SHOP) Given New C$265.00 Price Target at Royal Bank of Canada

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Shopify (TSE:SHOP) had its target price raised by Royal Bank of Canada from C$230.00 to C$265.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

TSE SHOP traded up C$11.01 during midday trading on Wednesday, hitting C$354.86. The company had a trading volume of 308,600 shares, compared to its average volume of 352,361. The stock has a market capitalization of $39.60 billion and a PE ratio of -580.79. Shopify has a twelve month low of C$159.25 and a twelve month high of C$357.54.

In other news, Director Steven Alan Collins sold 28,000 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of C$228.82, for a total transaction of C$6,407,038.18.

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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