Equities research analysts expect that Shopify Inc (NYSE:SHOP) (TSE:SHOP) will announce sales of $257.14 million for the current fiscal quarter, Zacks Investment Research reports. Fourteen analysts have provided estimates for Shopify’s earnings, with the lowest sales estimate coming in at $254.10 million and the highest estimate coming in at $265.47 million. Shopify posted sales of $171.46 million in the same quarter last year, which suggests a positive year-over-year growth rate of 50%. The firm is scheduled to report its next earnings results before the market opens on Thursday, October 25th.
According to Zacks, analysts expect that Shopify will report full-year sales of $1.03 billion for the current financial year, with estimates ranging from $1.01 billion to $1.06 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.43 billion, with estimates ranging from $1.36 billion to $1.53 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Shopify.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.30. Shopify had a negative net margin of 6.12% and a negative return on equity of 3.77%. The business had revenue of $245.00 million for the quarter, compared to analyst estimates of $234.72 million. During the same quarter in the prior year, the business earned ($0.01) EPS. Shopify’s quarterly revenue was up 61.5% on a year-over-year basis.
SHOP has been the topic of a number of research reports. National Bank Financial upped their price target on shares of Shopify from $160.00 to $180.00 and gave the company a “$173.26” rating in a research note on Monday, July 23rd. Rosenblatt Securities initiated coverage on shares of Shopify in a research note on Tuesday, September 4th. They issued a “buy” rating and a $188.00 price target on the stock. Barclays decreased their price target on shares of Shopify from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Royal Bank of Canada upped their price target on shares of Shopify from $126.00 to $157.00 and gave the company a “sector perform” rating in a research note on Thursday, July 26th. Finally, Canaccord Genuity upped their price target on shares of Shopify from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $164.53.
Several large investors have recently made changes to their positions in SHOP. Confluence Investment Management LLC bought a new stake in shares of Shopify during the 2nd quarter worth approximately $2,384,000. Prio Wealth Limited Partnership bought a new stake in shares of Shopify during the 2nd quarter worth approximately $218,000. Toronto Dominion Bank lifted its holdings in shares of Shopify by 100.7% during the 2nd quarter. Toronto Dominion Bank now owns 105,888 shares of the software maker’s stock worth $15,180,000 after acquiring an additional 53,119 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Shopify by 21.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 49,074 shares of the software maker’s stock worth $6,106,000 after acquiring an additional 8,821 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Shopify during the 2nd quarter worth approximately $36,506,000. Hedge funds and other institutional investors own 60.74% of the company’s stock.
SHOP traded down $5.11 on Monday, reaching $140.49. The company had a trading volume of 1,241,900 shares, compared to its average volume of 1,637,494. Shopify has a fifty-two week low of $89.35 and a fifty-two week high of $176.60. The firm has a market cap of $17.49 billion, a P/E ratio of -334.50 and a beta of 1.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.89 and a current ratio of 12.89.
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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