Equities analysts expect Shopify Inc (NYSE:SHOP) (TSE:SHOP) to post $483.23 million in sales for the current quarter, according to Zacks Investment Research. Twenty Three analysts have provided estimates for Shopify’s earnings. The lowest sales estimate is $473.12 million and the highest is $524.03 million. Shopify reported sales of $343.86 million in the same quarter last year, which indicates a positive year-over-year growth rate of 40.5%. The company is expected to announce its next quarterly earnings report on Tuesday, February 11th.
On average, analysts expect that Shopify will report full-year sales of $1.56 billion for the current financial year, with estimates ranging from $1.52 billion to $1.60 billion. For the next year, analysts forecast that the company will post sales of $2.11 billion, with estimates ranging from $2.00 billion to $2.37 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Shopify.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, October 29th. The software maker reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. Shopify had a negative net margin of 8.97% and a negative return on equity of 3.36%. The company had revenue of $390.55 million for the quarter, compared to the consensus estimate of $384.05 million.
A number of analysts have commented on SHOP shares. Guggenheim restated a “hold” rating on shares of Shopify in a research report on Friday, October 25th. Zacks Investment Research downgraded shares of Shopify from a “hold” rating to a “sell” rating and set a $379.00 target price on the stock. in a report on Friday, August 9th. Jefferies Financial Group set a $300.00 target price on shares of Shopify and gave the stock a “hold” rating in a report on Tuesday, September 10th. Roth Capital set a $325.00 target price on shares of Shopify and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $400.00 target price on shares of Shopify in a report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the company. Shopify presently has a consensus rating of “Hold” and an average target price of $341.30.
Several institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new position in shares of Shopify in the third quarter worth approximately $254,000. First Allied Advisory Services Inc. grew its position in Shopify by 3.6% during the third quarter. First Allied Advisory Services Inc. now owns 1,803 shares of the software maker’s stock valued at $561,000 after purchasing an additional 63 shares in the last quarter. Lyell Wealth Management LP grew its position in Shopify by 11.3% during the third quarter. Lyell Wealth Management LP now owns 16,113 shares of the software maker’s stock valued at $5,022,000 after purchasing an additional 1,640 shares in the last quarter. Cetera Advisors LLC grew its position in Shopify by 24.1% during the third quarter. Cetera Advisors LLC now owns 3,360 shares of the software maker’s stock valued at $1,045,000 after purchasing an additional 653 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its position in Shopify by 13.7% during the third quarter. Cetera Advisor Networks LLC now owns 2,771 shares of the software maker’s stock valued at $864,000 after purchasing an additional 333 shares in the last quarter. 58.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of SHOP stock traded down $0.07 during midday trading on Wednesday, reaching $312.38. 1,018,938 shares of the company were exchanged, compared to its average volume of 2,409,136. Shopify has a 12 month low of $117.64 and a 12 month high of $409.61. The company has a market cap of $35.56 billion, a P/E ratio of -512.10 and a beta of 1.18. The company’s 50 day moving average price is $314.87 and its two-hundred day moving average price is $316.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.21 and a current ratio of 11.21.
Shopify Company Profile
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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