Shopify (TSE:SHOP) Reaches New 1-Year High – Here’s What Happened

Shopify Inc. (TSE:SHOP)’s share price reached a new 52-week high on Tuesday . The company traded as high as C$183.38 and last traded at C$180.32, with a volume of 945948 shares changing hands. The stock had previously closed at C$181.92.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SHOP shares. ATB Capital downgraded shares of Shopify from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th. Mizuho lifted their target price on shares of Shopify from C$105.00 to C$110.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, National Bankshares lifted their target price on shares of Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Price Performance

The company has a debt-to-equity ratio of 9.74, a current ratio of 3.71 and a quick ratio of 5.74. The company’s 50 day moving average price is C$161.03 and its 200 day moving average price is C$131.44. The firm has a market capitalization of C$170.85 billion, a P/E ratio of 83.06, a PEG ratio of 0.87 and a beta of 2.36.

Insiders Place Their Bets

In related news, Senior Officer Kasra Nejatian sold 50,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of C$172.76, for a total value of C$8,637,893.55. Also, Director Tobyn David Shannan sold 433 shares of Shopify stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$163.19, for a total transaction of C$70,661.92. Over the last three months, insiders have sold 63,690 shares of company stock worth $10,862,641. Company 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.