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

Shares of Shopify Inc. (TSE:SHOP) hit a new 52-week high on Friday . The stock traded as high as C$170.75 and last traded at C$169.11, with a volume of 979360 shares. The stock had previously closed at C$160.08.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. ATB Capital lowered Shopify from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th. National Bankshares boosted their target price on shares of Shopify from C$100.00 to C$140.00 in a research report on Wednesday, November 13th.

Shopify Trading Up 5.2 %

The business has a fifty day moving average price of C$127.47 and a 200 day moving average price of C$103.68. The company has a market capitalization of C$203.82 billion, a price-to-earnings ratio of 123.96, a price-to-earnings-growth 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.

Insider Activity at Shopify

In other Shopify news, Director Tobyn David Shannan sold 424 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$91.85, for a total transaction of C$38,945.52. Also, Senior Officer Harley Michael Finkelstein sold 2,949 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$153.84, for a total transaction of C$453,669.15. Over the last ninety days, insiders sold 37,613 shares of company stock worth $5,325,385. 0.18% of the stock is owned by corporate insiders.

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.