Shopify (TSE:SHOP) Reaches New 1-Year High at $94.49

Shopify Inc. (TSE:SHOP)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$94.49 and last traded at C$93.96, with a volume of 677003 shares. The stock had previously closed at C$92.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SHOP shares. ATB Capital upped their target price on shares of Shopify from C$95.00 to C$105.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. CSFB upped their target price on shares of Shopify from C$55.00 to C$62.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Finally, Royal Bank of Canada upped their target price on shares of Shopify from C$75.00 to C$80.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd.

Shopify Price Performance

The stock’s 50-day simple moving average is C$76.63 and its 200 day simple moving average is C$80.41. The company has a quick ratio of 5.74, a current ratio of 7.23 and a debt-to-equity ratio of 13.54. The company has a market cap of C$113.58 billion, a price-to-earnings ratio of -75.70, a PEG ratio of 0.86 and a beta of 2.08.

Insider Transactions at Shopify

In other news, Senior Officer Harley Michael Finkelstein sold 3,308 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of C$56.51, for a total transaction of C$186,942.03. Corporate insiders own 0.22% of the company’s stock.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.