Shopify Inc (SHOP) Expected to Announce Quarterly Sales of $327.13 Million

Equities analysts predict that Shopify Inc (NYSE:SHOP) (TSE:SHOP) will report $327.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for Shopify’s earnings, with the highest sales estimate coming in at $339.00 million and the lowest estimate coming in at $319.96 million. Shopify posted sales of $222.81 million during the same quarter last year, which suggests a positive year over year growth rate of 46.8%. The business is expected to report its next quarterly earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Shopify will report full-year sales of $1.05 billion for the current fiscal year, with estimates ranging from $1.02 billion to $1.07 billion. For the next year, analysts expect that the firm will post sales of $1.46 billion, with estimates ranging from $1.38 billion to $1.52 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Shopify.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Thursday, October 25th. The software maker reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.34. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. The company had revenue of $270.06 million during the quarter, compared to analysts’ expectations of $257.17 million.

SHOP has been the topic of several research analyst reports. Rosenblatt Securities initiated 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. Wedbush initiated coverage on Shopify in a research note on Thursday, September 13th. They set an “outperform” rating and a $177.00 price objective on the stock. Jefferies Financial Group initiated coverage on Shopify in a research note on Monday, October 1st. They set a “hold” rating and a $175.00 price objective on the stock. Macquarie set a $185.00 price objective on Shopify and gave the stock a “buy” rating in a research note on Friday, October 26th. Finally, Royal Bank of Canada raised their price objective on Shopify from $157.00 to $159.00 and gave the stock a “sector perform” rating in a research note on Saturday, October 27th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Shopify has an average rating of “Buy” and a consensus price target of $164.90.

SHOP traded down $10.02 during trading hours on Wednesday, hitting $146.88. 1,636,590 shares of the stock were exchanged, compared to its average volume of 1,317,552. Shopify has a 12 month low of $99.87 and a 12 month high of $176.60. The stock has a market capitalization of $16.78 billion, a PE ratio of -349.71 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.82 and a quick ratio of 11.82.

Hedge funds have recently bought and sold shares of the business. Resources Investment Advisors Inc. lifted its stake in Shopify by 10,257.1% in the second quarter. Resources Investment Advisors Inc. now owns 725 shares of the software maker’s stock valued at $106,000 after buying an additional 718 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Shopify by 92.5% during the third quarter. Compagnie Lombard Odier SCmA now owns 770 shares of the software maker’s stock valued at $126,000 after purchasing an additional 370 shares during the period. Captrust Financial Advisors increased its holdings in shares of Shopify by 643.3% during the second quarter. Captrust Financial Advisors now owns 1,115 shares of the software maker’s stock valued at $163,000 after purchasing an additional 965 shares during the period. Bollard Group LLC acquired a new position in shares of Shopify during the third quarter valued at $164,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Shopify during the second quarter valued at $165,000. Institutional investors own 62.64% of the company’s stock.

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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