Shopify Inc (NYSE:SHOP) Expected to Post Earnings of -$0.02 Per Share

Brokerages expect that Shopify Inc (NYSE:SHOP) (TSE:SHOP) will post earnings per share of ($0.02) for the current quarter, according to Zacks. Twenty Seven analysts have made estimates for Shopify’s earnings, with estimates ranging from ($0.28) to $0.27. Shopify posted earnings of $0.14 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 114.3%. The firm is scheduled to announce its next earnings results on Thursday, August 6th.

On average, analysts expect that Shopify will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from ($0.42) to $1.08. For the next fiscal year, analysts expect that the company will post earnings of $0.64 per share, with EPS estimates ranging from ($1.82) to $1.73. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Shopify.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.89. The business had revenue of $470.00 million during the quarter, compared to the consensus estimate of $442.92 million. Shopify had a negative net margin of 7.65% and a negative return on equity of 2.56%. The company’s revenue was up 46.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share.

Several brokerages recently issued reports on SHOP. Zacks Investment Research raised shares of Shopify from a “hold” rating to a “buy” rating and set a $866.00 price objective for the company in a research note on Tuesday, May 26th. Royal Bank of Canada upped their price objective on shares of Shopify from $825.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Goldman Sachs Group upped their price objective on shares of Shopify from $786.00 to $1,127.00 and gave the company a “neutral” rating in a research note on Monday. KeyCorp reiterated an “overweight” rating and issued a $1,000.00 target price (up from $805.00) on shares of Shopify in a report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, DA Davidson reiterated a “hold” rating and issued a $650.00 target price on shares of Shopify in a report on Thursday, May 21st. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $700.75.

Several hedge funds and other institutional investors have recently bought and sold shares of SHOP. Squar Milner Financial Services LLC grew its position in shares of Shopify by 102.5% in the 1st quarter. Squar Milner Financial Services LLC now owns 81 shares of the software maker’s stock valued at $33,000 after buying an additional 41 shares during the last quarter. Key Financial Inc purchased a new position in shares of Shopify in the 1st quarter valued at $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of Shopify by 516.7% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 37 shares of the software maker’s stock valued at $35,000 after buying an additional 31 shares during the last quarter. PrairieView Partners LLC purchased a new position in shares of Shopify in the 1st quarter valued at $38,000. Finally, PSI Advisors LLC purchased a new position in shares of Shopify in the 4th quarter valued at $39,000. 60.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SHOP stock traded up $13.33 on Friday, reaching $1,029.97. 3,459,300 shares of the company were exchanged, compared to its average volume of 3,112,918. The company has a market cap of $120.77 billion, a price-to-earnings ratio of -887.91 and a beta of 1.61. The business has a 50-day moving average price of $811.26 and a 200 day moving average price of $559.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.45 and a current ratio of 9.45. Shopify has a 1 year low of $282.08 and a 1 year high of $1,059.44.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Earnings History and Estimates for Shopify (NYSE:SHOP)

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