Shopify (TSE:SHOP) Hits New 12-Month High – Time to Buy?

Shopify Inc. (TSE:SHOP)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$217.77 and last traded at C$211.60, with a volume of 2862403 shares changing hands. The stock had previously closed at C$209.74.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lowered shares of Shopify from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$160.00 to C$220.00 in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$157.50.

Shopify Stock Up 0.9%

The firm has a market cap of C$275.01 billion, a P/E ratio of 117.56, a price-to-earnings-growth ratio of 0.87 and a beta of 3.05. The firm’s 50 day moving average is C$189.08 and its two-hundred day moving average is C$157.28. The company has a current ratio of 3.71, a quick ratio of 5.74 and a debt-to-equity ratio of 9.74.

Insider Transactions at Shopify

In related news, Senior Officer Harley Michael Finkelstein sold 1,680 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of C$158.34, for a total transaction of C$266,019.16. Also, Senior Officer Jeff Hoffmeister sold 1,923 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of C$157.19, for a total transaction of C$302,274.32. In the last 90 days, insiders sold 7,899 shares of company stock worth $1,319,016. 0.18% of the stock is owned by company insiders.

About Shopify

Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store, and everywhere in between.