Shopify (TSE:SHOP) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shopify Inc. (TSE:SHOP) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$155.07 and traded as low as C$149.05. Shopify shares last traded at C$149.55, with a volume of 2,739,516 shares trading hands.

Wall Street Analysts Forecast Growth

SHOP has been the subject of several recent research reports. National Bankshares increased their price target on Shopify from C$100.00 to C$140.00 in a research note on Wednesday, November 13th. ATB Capital lowered Shopify from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$120.00 to C$145.00 in a research report on Wednesday, November 13th.

Shopify Trading Up 0.4 %

The company has a debt-to-equity ratio of 12.40, a current ratio of 7.32 and a quick ratio of 5.74. The firm has a fifty day simple moving average of C$155.63 and a two-hundred day simple moving average of C$119.39. The firm has a market capitalization of C$180.96 billion, a P/E ratio of 109.16, a price-to-earnings-growth ratio of 0.87 and a beta of 2.36.

Insider Transactions at Shopify

In other Shopify news, Senior Officer Harley Michael Finkelstein sold 426 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of C$110.63, for a total value of C$47,130.08. Also, Director Colleen Johnston sold 2,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$151.82, for a total value of C$303,631.60. Over the last 90 days, insiders sold 42,394 shares of company stock valued at $6,521,950. 0.18% of the stock is owned by corporate insiders.

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, 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.