Shopify (TSE:SHOP) Sets New 1-Year High – Time to Buy?

Shopify Inc. (TSE:SHOP) shares reached a new 52-week high during trading on Thursday . The stock traded as high as C$172.15 and last traded at C$171.46, with a volume of 851327 shares trading hands. The stock had previously closed at C$168.46.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SHOP. ATB Capital cut shares of Shopify from an “outperform” rating to a “sector perform” rating and increased their target price for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th. National Bankshares boosted their target price on Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Price Performance

The company has a debt-to-equity ratio of 12.40, a current ratio of 7.32 and a quick ratio of 5.74. The company has a market cap of C$208.80 billion, a PE ratio of 125.96, a P/E/G ratio of 0.87 and a beta of 2.36. The company has a 50-day moving average price of C$157.02 and a two-hundred day moving average price of C$123.10.

Insider Activity at Shopify

In related news, Senior Officer Jessica Hertz sold 26,672 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of C$150.33, for a total value of C$4,009,702.63. Also, Director Tobyn David Shannan sold 433 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of C$163.19, for a total transaction of C$70,661.92. Insiders have sold 42,362 shares of company stock valued at $6,538,082 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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, Australia, China, 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.