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

Shopify Inc. (TSE:SHOP) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$128.26 and last traded at C$125.73, with a volume of 1671081 shares. The stock had previously closed at C$121.25.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. ATB Capital cut Shopify from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from C$120.00 to C$145.00 in a report on Wednesday. National Bankshares upped their price target on shares of Shopify from C$100.00 to C$140.00 in a research report on Wednesday.

Shopify Stock Up 5.9 %

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 company has a fifty day simple moving average of C$108.96 and a 200-day simple moving average of C$96.14. The firm has a market cap of C$195.05 billion, a P/E ratio of 115.07, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insiders Place Their Bets

In other news, Senior Officer Harley Michael Finkelstein sold 426 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of C$110.63, for a total value of C$47,130.08. In related news, Senior Officer Harley Michael Finkelstein sold 426 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of C$110.63, for a total value of C$47,130.08. Also, Director Tobyn David Shannan sold 424 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of C$91.85, for a total transaction of C$38,945.52. Insiders sold a total of 9,751 shares of company stock worth $852,555 over the last three months. 0.18% of the stock is currently owned by company 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.