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

Shopify Inc. (TSE:SHOP - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$176.61 and last traded at C$173.22, with a volume of 931237 shares. The stock had previously closed at C$167.67.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Mizuho lifted their target price on Shopify from C$105.00 to C$110.00 and gave the stock a "hold" rating in a report on Wednesday. National Bankshares lifted their target price on Shopify from C$100.00 to C$140.00 in a report on Wednesday, November 13th. Finally, ATB Capital lowered Shopify from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from C$120.00 to C$145.00 in a report on Wednesday, November 13th.

Shopify Price Performance

The stock has a 50-day moving average of C$160.37 and a two-hundred day moving average of C$129.38. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74. The firm has a market cap of C$169.42 billion, a price-to-earnings ratio of 82.36, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insiders Place Their Bets

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 2,949 shares of Shopify stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$153.84, for a total transaction of C$453,669.15. Also, Senior Officer Kasra Nejatian sold 50,000 shares of Shopify stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of C$172.76, for a total value of C$8,637,893.55. In the last quarter, insiders have sold 63,690 shares of company stock worth $10,862,641. Company 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.