Shopify (TSE:SHOP) Reaches New 12-Month High – Still a Buy?

Shares of Shopify Inc. (TSE:SHOP) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$162.99 and last traded at C$161.93, with a volume of 742396 shares traded. The stock had previously closed at C$158.27.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SHOP. ATB Capital lowered Shopify from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$120.00 to C$145.00 in a research note on Wednesday, November 13th. National Bankshares boosted their price objective on Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Stock Performance

The company has a market cap of C$195.83 billion, a price-to-earnings ratio of 118.13, a PEG ratio of 0.87 and a beta of 2.36. The firm’s 50 day simple moving average is C$123.39 and its 200-day simple moving average is C$101.63. The company has a debt-to-equity ratio of 12.40, a quick ratio of 5.74 and a current ratio of 7.32.

Insider Transactions at Shopify

In related news, Senior Officer Harley Michael Finkelstein sold 2,949 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of C$153.84, for a total value of C$453,669.15. Also, Director Tobyn David Shannan sold 424 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$91.85, for a total value of C$38,945.52. Over the last three months, insiders have sold 37,613 shares of company stock valued at $5,325,385. 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.