Shopify Inc. to Post Q1 2021 Earnings of ($0.02) Per Share, Jefferies Financial Group Forecasts (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Jefferies Financial Group increased their Q1 2021 EPS estimates for Shopify in a research note issued on Monday, January 11th. Jefferies Financial Group analyst S. Samana now forecasts that the software maker will post earnings per share of ($0.02) for the quarter, up from their prior estimate of ($0.03). Jefferies Financial Group currently has a “Buy” rating and a $1,250.00 price target on the stock. Jefferies Financial Group also issued estimates for Shopify’s Q4 2021 earnings at $0.25 EPS, FY2021 earnings at $0.61 EPS and FY2022 earnings at $0.98 EPS.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Thursday, October 29th. The software maker reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $1.21. Shopify had a positive return on equity of 0.32% and a negative net margin of 3.25%. The firm had revenue of $767.40 million for the quarter, compared to analyst estimates of $652.60 million. During the same period in the previous year, the company posted ($0.29) earnings per share. The business’s revenue was up 96.5% on a year-over-year basis.

Other analysts have also issued reports about the company. KeyCorp boosted their price objective on Shopify from $1,250.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Monday. Roth Capital boosted their price objective on Shopify from $850.00 to $1,000.00 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $998.00 to $1,300.00 in a research note on Wednesday, September 30th. BidaskClub lowered Shopify from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 6th. Finally, Morgan Stanley boosted their target price on Shopify from $970.00 to $1,050.00 and gave the stock an “equal weight” rating in a research report on Friday, October 30th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Shopify presently has an average rating of “Hold” and an average target price of $1,058.93.

NYSE:SHOP opened at $1,199.82 on Thursday. Shopify has a 52-week low of $305.30 and a 52-week high of $1,285.19. The firm has a market cap of $146.27 billion, a price-to-earnings ratio of -1,966.89, a PEG ratio of 96.18 and a beta of 1.48. The business’s fifty day moving average is $1,124.13 and its 200 day moving average is $1,028.47.

A number of hedge funds have recently modified their holdings of the stock. Harrington Investments INC boosted its holdings in Shopify by 1.9% during the 4th quarter. Harrington Investments INC now owns 489 shares of the software maker’s stock valued at $554,000 after acquiring an additional 9 shares during the period. CNB Bank grew its holdings in shares of Shopify by 9.9% during the 3rd quarter. CNB Bank now owns 111 shares of the software maker’s stock worth $113,000 after purchasing an additional 10 shares in the last quarter. Ausdal Financial Partners Inc. boosted its stake in Shopify by 3.6% in the third quarter. Ausdal Financial Partners Inc. now owns 344 shares of the software maker’s stock valued at $352,000 after buying an additional 12 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in Shopify by 3.3% in the third quarter. Cornerstone Wealth Management LLC now owns 437 shares of the software maker’s stock valued at $447,000 after buying an additional 14 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its stake in Shopify by 4.7% in the third quarter. NEXT Financial Group Inc now owns 309 shares of the software maker’s stock valued at $316,000 after buying an additional 14 shares in the last quarter. Institutional investors own 59.45% of the company’s stock.

Shopify Company Profile

Shopify Inc, a commerce company, 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, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.

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