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

Shopify Inc. (TSE:SHOP) hit a new 52-week high during trading 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

Several equities research analysts recently weighed in on SHOP shares. ATB Capital cut shares of Shopify from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$120.00 to C$145.00 in a research report on Wednesday, November 13th. National Bankshares upped their price target on shares of Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th.

Shopify Stock Up 2.8 %

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 firm has a 50 day moving average of C$122.29 and a two-hundred day moving average of C$100.91. The firm has a market capitalization of C$196.78 billion, a price-to-earnings ratio of 115.18, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insider Transactions at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 2,949 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$153.84, for a total transaction of C$453,669.15. Also, Director Colleen Johnston sold 2,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$151.82, for a total value of C$303,631.60. Over the last 90 days, insiders sold 37,613 shares of company stock valued at $5,325,385. 0.18% of the stock is currently owned by 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.