Shopify (TSE:SHOP) Hits New 12-Month High – Here’s Why

Shopify Inc. (TSE:SHOP)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$170.75 and last traded at C$169.41, with a volume of 598330 shares. The stock had previously closed at C$165.32.

Analysts Set New Price Targets

A number of brokerages recently commented on SHOP. National Bankshares lifted their price objective on Shopify from C$100.00 to C$140.00 in a research note on Wednesday, November 13th. ATB Capital cut Shopify from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$120.00 to C$145.00 in a report on Wednesday, November 13th.

Shopify Stock Performance

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 company has a market cap of C$186.45 billion, a price-to-earnings ratio of 112.47, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36. The stock has a 50-day moving average price of C$137.40 and a 200 day moving average price of C$109.21.

Insider Buying and Selling

In other news, Senior Officer Jessica Hertz sold 4,963 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of C$167.08, for a total value of C$829,193.57. Also, Senior Officer Harley Michael Finkelstein sold 4,951 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$163.19, for a total value of C$807,961.18. In the last three months, insiders sold 42,394 shares of company stock valued at $6,521,950. 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.