Shopify (TSE:SHOP) Hits New 1-Year High – Should You Buy?

Shopify Inc. (TSE:SHOP) shares reached a new 52-week high on Friday . The company 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.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent research reports. ATB Capital cut shares of Shopify from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$120.00 to C$145.00 in a research report on Wednesday, November 13th. National Bankshares increased their price objective on Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Price Performance

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 business’s 50-day simple moving average is C$122.29 and its two-hundred day simple moving average is C$100.91. The firm has a market cap of C$196.78 billion, a price-to-earnings ratio of 115.18, a P/E/G ratio of 0.87 and a beta of 2.36.

Insider Activity at Shopify

In related news, Senior Officer Harley Michael Finkelstein sold 5,142 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$91.85, for a total value of C$472,306.23. Also, Director Tobyn David Shannan sold 424 shares of the company’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 value of C$38,945.52. Insiders have sold a total of 37,613 shares of company stock worth $5,325,385 in the last 90 days. Corporate 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.