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

Shopify Inc. (TSE:SHOP)’s stock price hit a new 52-week high on Tuesday . The company traded as high as C$170.75 and last traded at C$169.41, with a volume of 598330 shares traded. The stock had previously closed at C$165.32.

Analysts Set New Price Targets

SHOP has been the topic of several research analyst reports. ATB Capital cut 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 report on Wednesday, November 13th. National Bankshares boosted their price target on shares of Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Trading Up 3.7 %

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 capitalization of C$207.37 billion, a price-to-earnings ratio of 120.67, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The business has a fifty day moving average price of C$135.36 and a 200 day moving average price of C$108.23.

Insider Activity at Shopify

In other news, Senior Officer Jessica Hertz sold 4,963 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$167.08, for a total value of C$829,193.57. Also, Senior Officer Harley Michael Finkelstein sold 426 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of C$110.63, for a total transaction of C$47,130.08. Insiders sold a total of 42,394 shares of company stock worth $6,521,950 in the last ninety days. 0.18% of the stock is currently owned by insiders.

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.