Shopify (TSE:SHOP) Hits New 12-Month High at $86.85

Shopify Inc. (TSE:SHOP) shares hit a new 52-week high during trading on Monday . The company traded as high as C$86.85 and last traded at C$86.05, with a volume of 96401 shares trading hands. The stock had previously closed at C$86.23.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Shopify from C$75.00 to C$80.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. CSFB upped their price objective on shares of Shopify from C$55.00 to C$62.00 and gave the company a “neutral” rating in a research report on Thursday, August 3rd. Finally, ATB Capital upped their price objective on shares of Shopify from C$90.00 to C$95.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd.

Shopify Price Performance

The company has a debt-to-equity ratio of 15.20, a current ratio of 6.72 and a quick ratio of 5.74. The stock has a market capitalization of C$104.92 billion, a P/E ratio of -39.81, a PEG ratio of 0.86 and a beta of 2.04. The company’s 50 day simple moving average is C$82.63 and its two-hundred day simple moving average is C$75.14.

Insiders Place Their Bets

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 3,308 shares of the company’s 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. Insiders own 0.22% 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, 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.