Shopify Inc (US) (SHOP) to Post FY2017 Earnings of ($0.50) Per Share, DA Davidson Forecasts

Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) – Equities researchers at DA Davidson boosted their FY2017 earnings per share (EPS) estimates for shares of Shopify Inc (US) in a report released on Thursday. DA Davidson analyst T. Forte now anticipates that the software maker will post earnings of ($0.50) per share for the year, up from their previous forecast of ($0.51). DA Davidson currently has a “Neutral” rating and a $110.00 price target on the stock. DA Davidson also issued estimates for Shopify Inc (US)’s Q1 2018 earnings at ($0.06) EPS, Q2 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.13) EPS, FY2019 earnings at $0.42 EPS, FY2020 earnings at $1.26 EPS and FY2021 earnings at $2.42 EPS.

Several other research analysts have also weighed in on SHOP. Vetr upgraded Shopify Inc (US) from a “buy” rating to a “strong-buy” rating and set a $140.24 price objective for the company in a research report on Monday, February 5th. National Bank Financial increased their price objective on Shopify Inc (US) from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Morgan Stanley increased their price objective on Shopify Inc (US) from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. KeyCorp reiterated an “overweight” rating and issued a $140.00 price objective (up from $116.00) on shares of Shopify Inc (US) in a research report on Monday, November 27th. Finally, Roth Capital increased their price objective on Shopify Inc (US) from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $108.01.

Shopify Inc (NYSE SHOP) opened at $119.55 on Monday. Shopify Inc has a fifty-two week low of $54.30 and a fifty-two week high of $131.16. The company has a market capitalization of $11,870.00 and a P/E ratio of -243.98. The company has a current ratio of 10.64, a quick ratio of 10.64 and a debt-to-equity ratio of 0.02.

A number of large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its stake in Shopify Inc (US) by 26.6% during the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after purchasing an additional 298 shares in the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC raised its stake in shares of Shopify Inc (US) by 6.4% in the fourth quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 8,030 shares of the software maker’s stock valued at $811,000 after acquiring an additional 485 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Shopify Inc (US) by 18.5% in the third quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock valued at $413,000 after acquiring an additional 544 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of Shopify Inc (US) by 7.1% in the third quarter. Cetera Advisors LLC now owns 9,260 shares of the software maker’s stock valued at $1,077,000 after acquiring an additional 610 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Shopify Inc (US) by 63.8% in the fourth quarter. US Bancorp DE now owns 1,889 shares of the software maker’s stock valued at $191,000 after acquiring an additional 736 shares in the last quarter. Institutional investors own 55.48% of the company’s stock.

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Shopify Inc (US) 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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