Brokerages Expect Shopify Inc. (SHOP) Will Post Earnings of -$0.02 Per Share
Brokerages expect Shopify Inc. (NYSE:SHOP) (TSE:SH) to post earnings of ($0.02) per share for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Shopify’s earnings. The lowest EPS estimate is ($0.03) and the highest is $0.00. Shopify also posted earnings per share of ($0.02) during the same quarter last year. The business is scheduled to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Shopify will report full year earnings of ($0.04) per share for the current fiscal year, with EPS estimates ranging from ($0.07) to $0.00. For the next fiscal year, analysts expect that the company will report earnings of $0.22 per share, with EPS estimates ranging from $0.05 to $0.46. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Shopify.
Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The business had revenue of $151.70 million for the quarter, compared to the consensus estimate of $143.94 million. During the same quarter last year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 75.2% on a year-over-year basis.
Several brokerages have commented on SHOP. Vetr cut shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price target on the stock. in a research note on Thursday, June 22nd. KeyCorp reiterated a “buy” rating and issued a $116.00 price target on shares of Shopify in a research note on Friday. Credit Suisse Group restated an “outperform” rating and set a $95.00 target price on shares of Shopify in a research report on Tuesday, May 23rd. BidaskClub cut shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, CSFB restated an “outperform” rating and set a $128.00 target price on shares of Shopify in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $91.81.
A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its stake in Shopify by 8.5% in the 2nd quarter. FMR LLC now owns 12,560,797 shares of the software maker’s stock worth $1,090,644,000 after acquiring an additional 989,113 shares in the last quarter. Coatue Management LLC bought a new position in Shopify in the 2nd quarter worth about $228,174,000. Renaissance Technologies LLC grew its stake in Shopify by 4.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,347,000 shares of the software maker’s stock worth $91,732,000 after acquiring an additional 61,000 shares in the last quarter. Scge Management L.P. grew its stake in Shopify by 16.7% in the 1st quarter. Scge Management L.P. now owns 1,015,000 shares of the software maker’s stock worth $69,111,000 after acquiring an additional 145,000 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC grew its stake in Shopify by 36.1% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 837,955 shares of the software maker’s stock worth $72,818,000 after acquiring an additional 222,240 shares in the last quarter. Institutional investors and hedge funds own 53.78% of the company’s stock.
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Shares of Shopify (NYSE SHOP) opened at 113.61 on Friday. Shopify has a 52-week low of $37.74 and a 52-week high of $114.88. The stock’s market cap is $11.20 billion. The firm’s 50-day moving average price is $99.26 and its 200-day moving average price is $84.68.
Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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