Shopify (TSE:SHOP) Reaches New 1-Year High – Should You Buy?

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on SHOP shares. ATB Capital cut Shopify from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from C$120.00 to C$145.00 in a research report on Wednesday, November 13th. National Bankshares raised their target price on shares of Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Stock Performance

The company has a debt-to-equity ratio of 12.40, a quick ratio of 5.74 and a current ratio of 7.32. The company has a market cap of C$205.23 billion, a P/E ratio of 123.80, a P/E/G ratio of 0.87 and a beta of 2.36. The stock’s fifty day moving average price is C$157.89 and its two-hundred day moving average price is C$124.01.

Insider Buying and Selling

In other news, Senior Officer Harley Michael Finkelstein sold 394 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of C$160.56, for a total value of C$63,261.55. Also, Director Tobyn David Shannan sold 433 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$163.19, for a total value of C$70,661.92. Insiders sold a total of 42,362 shares of company stock worth $6,538,082 in the last ninety days. 0.18% of the stock is owned by insiders.

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.