Equities research analysts expect that Shopify Inc (NYSE:SHOP) (TSE:SHOP) will announce sales of $256.33 million for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Shopify’s earnings, with estimates ranging from $254.10 million to $261.00 million. Shopify reported sales of $171.46 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 49.5%. The firm is expected to report its next quarterly earnings results on Tuesday, October 30th.
On average, analysts expect that Shopify will report full year sales of $1.03 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.05 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.42 billion per share, with estimates ranging from $1.36 billion to $1.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Shopify.
Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.30. Shopify had a negative return on equity of 3.77% and a negative net margin of 6.12%. The firm had revenue of $245.00 million for the quarter, compared to analyst estimates of $234.72 million. During the same quarter last year, the company earned ($0.01) EPS. The company’s revenue was up 61.5% on a year-over-year basis.
A number of equities analysts have commented on the company. Wedbush assumed coverage on Shopify in a research note on Thursday. They set an “outperform” rating on the stock. Rosenblatt Securities assumed coverage on Shopify in a research note on Tuesday, September 4th. They set a “buy” rating and a $188.00 price objective on the stock. Guggenheim assumed coverage on Shopify in a research note on Tuesday, August 7th. They set a “buy” rating and a $180.00 price objective on the stock. Roth Capital lowered their price objective on Shopify from $192.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, August 1st. Finally, Morgan Stanley lifted their price target on Shopify from $140.00 to $151.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Shopify has an average rating of “Buy” and a consensus target price of $161.90.
Several institutional investors and hedge funds have recently modified their holdings of SHOP. Resources Investment Advisors Inc. boosted its holdings in shares of Shopify by 10,257.1% during the 2nd quarter. Resources Investment Advisors Inc. now owns 725 shares of the software maker’s stock valued at $106,000 after acquiring an additional 718 shares in the last quarter. Next Century Growth Investors LLC acquired a new stake in shares of Shopify during the 1st quarter valued at $115,000. Signaturefd LLC acquired a new stake in shares of Shopify during the 1st quarter valued at $132,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Shopify during the 2nd quarter valued at $159,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Shopify by 643.3% during the 2nd quarter. Captrust Financial Advisors now owns 1,115 shares of the software maker’s stock valued at $163,000 after acquiring an additional 965 shares in the last quarter. Institutional investors own 60.74% of the company’s stock.
Shopify stock opened at $155.50 on Friday. Shopify has a one year low of $89.35 and a one year high of $176.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.89 and a current ratio of 12.89. The firm has a market cap of $15.72 billion, a price-to-earnings ratio of -370.24 and a beta of 1.17.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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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