Shopify (TSE:SHOP) Reaches New 12-Month High – What’s Next?

Shopify Inc. (TSE:SHOP)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$183.38 and last traded at C$180.32, with a volume of 945948 shares. The stock had previously closed at C$181.92.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SHOP shares. National Bankshares upped their target price on Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th. ATB Capital lowered Shopify from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th. Finally, Mizuho raised their target price on Shopify from C$105.00 to C$110.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th.

Shopify Trading Down 3.7 %

The firm has a market capitalization of C$162.95 billion, a price-to-earnings ratio of 79.22, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. 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 firm’s 50 day moving average is C$162.00 and its 200 day moving average is C$132.84.

Insider Buying and Selling at Shopify

In related news, Senior Officer Harley Michael Finkelstein sold 4,951 shares of the firm’s 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 value of C$807,961.18. Also, Senior Officer Kasra Nejatian sold 50,000 shares of Shopify stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of C$172.76, for a total transaction of C$8,637,893.55. Over the last 90 days, insiders have sold 63,690 shares of company stock valued at $10,862,641. Corporate insiders own 0.18% of the company’s stock.

About Shopify

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.