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

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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. ATB Capital downgraded Shopify from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$120.00 to C$145.00 in a research report on Wednesday, November 13th. National Bankshares lifted their price target on shares of 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 capitalization 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 company has a debt-to-equity ratio of 12.40, a current ratio of 7.32 and a quick ratio of 5.74. The stock has a 50 day simple moving average of C$123.39 and a two-hundred day simple moving average of C$101.63.

Insider Activity at Shopify

In other Shopify news, Director Colleen Johnston sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$151.82, for a total value of C$303,631.60. Also, Senior Officer Harley Michael Finkelstein sold 5,142 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$91.85, for a total transaction of C$472,306.23. Insiders sold a total of 37,613 shares of company stock valued at $5,325,385 over the last ninety days. 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.