Q2 2021 EPS Estimates for Shopify Inc. Lifted by Analyst (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Analysts at Jefferies Financial Group increased their Q2 2021 earnings estimates for shares of Shopify in a research note issued to investors on Monday, January 11th. Jefferies Financial Group analyst S. Samana now forecasts that the software maker will post earnings of $0.14 per share for the quarter, up from their prior estimate of $0.12. 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 Q3 2021 earnings at $0.26 EPS.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, October 29th. The software maker reported $1.13 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $767.40 million during the quarter, compared to analysts’ expectations of $652.60 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. The firm’s quarterly revenue was up 96.5% compared to the same quarter last year.

A number of other research analysts have also recently issued reports on the company. ValuEngine cut Shopify from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $998.00 to $1,300.00 in a research note on Wednesday, September 30th. Roth Capital boosted their target price on Shopify from $850.00 to $1,000.00 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. Morgan Stanley boosted their target price on Shopify from $970.00 to $1,050.00 and gave the company an “equal weight” rating in a research note on Friday, October 30th. Finally, Zacks Investment Research raised Shopify from a “hold” rating to a “strong-buy” rating and set a $1,319.00 target price for the company in a research note on Tuesday, December 29th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $1,058.93.

Shares of Shopify stock opened at $1,199.82 on Wednesday. Shopify has a 12 month low of $305.30 and a 12 month high of $1,285.19. The business has a fifty day simple moving average of $1,124.13 and a 200 day simple moving average of $1,028.47. The stock has a market cap of $146.27 billion, a PE ratio of -1,966.89, a price-to-earnings-growth ratio of 96.18 and a beta of 1.48.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in Shopify by 171.0% in the second quarter. Toronto Dominion Bank now owns 387,560 shares of the software maker’s stock valued at $368,099,000 after buying an additional 244,534 shares during the period. Winslow Capital Management LLC bought a new stake in Shopify in the third quarter valued at approximately $234,983,000. Durable Capital Partners LP raised its stake in Shopify by 64.1% in the third quarter. Durable Capital Partners LP now owns 382,104 shares of the software maker’s stock valued at $390,881,000 after buying an additional 149,189 shares during the period. Voloridge Investment Management LLC raised its stake in Shopify by 960.1% in the third quarter. Voloridge Investment Management LLC now owns 127,471 shares of the software maker’s stock valued at $130,399,000 after buying an additional 115,447 shares during the period. Finally, Oribel Capital Management LP raised its stake in Shopify by 104.9% in the third quarter. Oribel Capital Management LP now owns 5,300 shares of the software maker’s stock valued at $5,421,000 after buying an additional 112,900 shares during the period. Institutional investors and hedge funds 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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