Shopify Inc (SHOP) Expected to Post Quarterly Sales of $309.93 Million

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Equities analysts expect Shopify Inc (NYSE:SHOP) (TSE:SHOP) to post $309.93 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twenty Four analysts have provided estimates for Shopify’s earnings, with the highest sales estimate coming in at $319.50 million and the lowest estimate coming in at $304.47 million. Shopify reported sales of $214.34 million during the same quarter last year, which indicates a positive year over year growth rate of 44.6%. The company is expected to issue its next earnings results before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that Shopify will report full year sales of $1.49 billion for the current financial year, with estimates ranging from $1.46 billion to $1.62 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.96 billion, with estimates ranging from $1.87 billion to $2.09 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Shopify.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. Shopify had a negative return on equity of 3.52% and a negative net margin of 6.01%. The business had revenue of $344.00 million for the quarter, compared to analyst estimates of $327.45 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s revenue was up 54.3% on a year-over-year basis.

A number of research firms have recently weighed in on SHOP. Zacks Investment Research raised Shopify from a “strong sell” rating to a “hold” rating and set a $241.00 price objective on the stock in a research report on Tuesday, April 16th. Roth Capital upped their price objective on Shopify from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. DA Davidson upped their price objective on Shopify from $150.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. Robert W. Baird upped their price objective on Shopify from $165.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $170.00 price objective on shares of Shopify in a research report on Thursday, February 14th. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $195.80.

A number of large investors have recently bought and sold shares of SHOP. WCM Investment Management LLC raised its stake in shares of Shopify by 5.7% in the 4th quarter. WCM Investment Management LLC now owns 6,599,190 shares of the software maker’s stock valued at $913,657,000 after buying an additional 357,313 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Shopify by 21.7% during the 4th quarter. Baillie Gifford & Co. now owns 3,788,009 shares of the software maker’s stock worth $524,449,000 after acquiring an additional 674,648 shares during the last quarter. Jennison Associates LLC grew its holdings in Shopify by 13.6% during the 4th quarter. Jennison Associates LLC now owns 1,312,177 shares of the software maker’s stock worth $181,671,000 after acquiring an additional 156,966 shares during the last quarter. Norges Bank bought a new stake in Shopify during the 4th quarter worth about $101,062,000. Finally, Bank of New York Mellon Corp grew its holdings in Shopify by 7.8% during the 4th quarter. Bank of New York Mellon Corp now owns 579,461 shares of the software maker’s stock worth $80,226,000 after acquiring an additional 41,900 shares during the last quarter. 64.95% of the stock is currently owned by hedge funds and other institutional investors.

Shopify stock opened at $220.72 on Friday. Shopify has a twelve month low of $117.64 and a twelve month high of $221.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 15.35 and a current ratio of 15.35. The firm has a market cap of $24.37 billion, a PE ratio of -361.84 and a beta of 1.53.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, 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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Earnings History and Estimates for Shopify (NYSE:SHOP)

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