Shopify (TSE:SHOP) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Shopify Inc. (TSE:SHOP) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$155.07 and traded as low as C$149.05. Shopify shares last traded at C$149.55, with a volume of 2,739,516 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SHOP. ATB Capital downgraded shares of Shopify from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$120.00 to C$145.00 in a research report on Wednesday, November 13th. National Bankshares boosted their price target on Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Trading Up 0.4 %

The company has a market capitalization of C$180.96 billion, a price-to-earnings ratio of 109.16, a P/E/G ratio of 0.87 and a beta of 2.36. 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 moving average price is C$155.63 and its two-hundred day moving average price is C$119.39.

Insider Buying and Selling at Shopify

In other news, Senior Officer Jessica Hertz sold 26,672 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of C$150.33, for a total value of C$4,009,702.63. Also, Senior Officer Harley Michael Finkelstein sold 426 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of C$110.63, for a total transaction of C$47,130.08. Insiders have sold 42,394 shares of company stock worth $6,521,950 over the last quarter. Corporate 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.