Shopify (TSE:SHOP) Hits New 52-Week High – Time to Buy?

Shares of Shopify Inc. (TSE:SHOP) reached a new 52-week high 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SHOP. ATB Capital cut Shopify from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$120.00 to C$145.00 in a 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 Stock Up 3.7 %

The firm’s 50 day simple moving average is C$135.36 and its 200-day simple moving average is C$108.23. 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 stock has a market capitalization of C$207.37 billion, a price-to-earnings ratio of 120.67, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insider Activity at Shopify

In other news, Senior Officer Jessica Hertz sold 4,963 shares of Shopify stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$167.08, for a total value of C$829,193.57. Also, Director Tobyn David Shannan sold 433 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of C$163.19, for a total transaction of C$70,661.92. Over the last quarter, insiders have sold 42,394 shares of company stock valued at $6,521,950. 0.18% of the stock is 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.