Shopify Inc (SHOP) Expected to Post FY2020 Earnings of ($0.05) Per Share

Share on StockTwits

Shopify Inc (NYSE:SHOP) (TSE:SHOP) – Research analysts at Wedbush issued their FY2020 EPS estimates for shares of Shopify in a note issued to investors on Wednesday, October 24th. Wedbush analyst Y. Arounian forecasts that the software maker will post earnings of ($0.05) per share for the year. Wedbush currently has a “Outperform” rating and a $177.00 target price on the stock.

A number of other equities analysts also recently weighed in on SHOP. Rosenblatt Securities set a $190.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Macquarie set a $185.00 target price on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Piper Jaffray Companies downgraded shares of Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 target price on the stock. in a report on Tuesday, July 31st. Robert W. Baird boosted their target price on shares of Shopify from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Finally, Royal Bank of Canada boosted their target price on shares of Shopify from $157.00 to $159.00 and gave the stock a “sector perform” rating in a report on Saturday. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $166.59.

Shares of SHOP opened at $129.14 on Monday. The firm has a market cap of $14.14 billion, a P/E ratio of -307.48 and a beta of 1.15. Shopify has a 1-year low of $92.41 and a 1-year high of $176.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.82 and a current ratio of 11.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, October 25th. The software maker reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.34. The business had revenue of $270.06 million for the quarter, compared to analyst estimates of $257.17 million. Shopify had a negative net margin of 6.93% and a negative return on equity of 4.26%.

Several large investors have recently added to or reduced their stakes in SHOP. WCM Investment Management CA increased its holdings in shares of Shopify by 105,403.1% in the second quarter. WCM Investment Management CA now owns 5,802,669 shares of the software maker’s stock valued at $846,551,000 after purchasing an additional 5,797,169 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Shopify by 21.4% in the second quarter. Baillie Gifford & Co. now owns 1,682,123 shares of the software maker’s stock valued at $245,405,000 after purchasing an additional 296,872 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Shopify in the second quarter valued at $36,506,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Shopify by 23.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,091,315 shares of the software maker’s stock valued at $159,045,000 after purchasing an additional 206,325 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Shopify by 40.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 667,628 shares of the software maker’s stock valued at $97,387,000 after purchasing an additional 192,463 shares during the last quarter. Hedge funds and other institutional investors own 60.68% 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.

Featured Article: Does the discount rate affect the economy?

Earnings History and Estimates for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply