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

Shopify Inc. (TSE:SHOP)’s stock price reached a new 52-week high during 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.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. ATB Capital downgraded shares of 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 note on Wednesday, November 13th. National Bankshares raised their target price on Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Stock Performance

The company has a quick ratio of 5.74, a current ratio of 7.32 and a debt-to-equity ratio of 12.40. The firm has a market capitalization of C$208.80 billion, a P/E ratio of 125.96, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The company’s 50 day moving average is C$157.02 and its 200-day moving average is C$123.10.

Insider Activity

In related news, Director Colleen Johnston sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$151.82, for a total transaction of C$303,631.60. Also, Senior Officer Jessica Hertz sold 4,963 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of C$167.08, for a total value of C$829,193.57. Insiders sold a total of 42,362 shares of company stock valued at $6,538,082 over the last three months. 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.