Shopify (TSE:SHOP) Sets New 52-Week High – Should You Buy?

Shopify Inc. (TSE:SHOP)’s share 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 changing hands. The stock had previously closed at C$165.32.

Analyst Ratings Changes

SHOP has been the topic of several research analyst reports. National Bankshares raised their price target on shares of Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th. ATB Capital downgraded Shopify from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$120.00 to C$145.00 in a research report on Wednesday, November 13th.

Shopify Stock Down 2.7 %

The stock has a market capitalization of C$186.45 billion, a P/E ratio of 112.47, a P/E/G ratio of 0.87 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 5.74 and a debt-to-equity ratio of 12.40. The firm’s fifty day moving average is C$137.40 and its 200-day moving average is C$109.21.

Insider Activity

In related news, Senior Officer Jessica Hertz sold 4,963 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$167.08, for a total transaction of C$829,193.57. Also, Director Tobyn David Shannan sold 433 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$163.19, for a total transaction of C$70,661.92. Over the last 90 days, insiders sold 42,394 shares of company stock worth $6,521,950. Insiders own 0.18% of the company’s stock.

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.