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

Shopify Inc. (TSE:SHOP)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$176.61 and last traded at C$173.22, with a volume of 931237 shares. The stock had previously closed at C$167.67.

Analyst Ratings Changes

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

Shopify Stock Performance

The stock has a 50 day moving average of C$159.70 and a 200 day moving average of C$128.72. 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 cap of C$208.22 billion, a price-to-earnings ratio of 125.61, a P/E/G ratio of 0.87 and a beta of 2.36.

Insider Activity

In related news, Director Colleen Johnston sold 2,000 shares of the firm’s stock in a transaction dated 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 2,949 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$153.84, for a total value of C$453,669.15. In the last ninety days, insiders sold 15,690 shares of company stock worth $2,528,379. 0.18% of the stock is currently owned by corporate 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.