Shopify (TSE:SHOP) Hits New 52-Week High - What's Next?

Shopify Inc. (TSE:SHOP - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as C$170.75 and last traded at C$169.11, with a volume of 979360 shares changing hands. The stock had previously closed at C$160.08.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SHOP. ATB Capital lowered Shopify from an "outperform" rating to a "sector perform" rating and increased their price objective for the company from C$120.00 to C$145.00 in a report on Wednesday, November 13th. National Bankshares increased their price target on Shopify from C$100.00 to C$140.00 in a research note on Wednesday, November 13th.

Shopify Trading Up 4.7 %

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 firm has a market cap of C$202.74 billion, a price-to-earnings ratio of 122.30, a PEG ratio of 0.87 and a beta of 2.36. The company has a fifty day moving average price of C$128.67 and a 200-day moving average price of C$104.48.

Insider Buying and Selling at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 5,142 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of C$91.85, for a total transaction of C$472,306.23. Also, Senior Officer Jessica Hertz sold 26,672 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of C$150.33, for a total transaction of C$4,009,702.63. Over the last quarter, insiders sold 37,613 shares of company stock valued at $5,325,385. 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.