Shopify (NYSE:SHOP) Posts Quarterly Earnings Results

Shopify (NYSE:SHOP) (TSE:SHOP) posted its earnings results on Tuesday. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09, reports. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. Shopify updated its Q4 2024 guidance to EPS.

Shopify Stock Down 5.2 %

NYSE SHOP opened at $109.08 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.10 and a quick ratio of 7.32. The stock has a market capitalization of $140.76 billion, a PE ratio of 101.94, a PEG ratio of 3.71 and a beta of 2.36. Shopify has a 1 year low of $48.56 and a 1 year high of $115.62. The business’s 50-day moving average is $80.36 and its 200 day moving average is $70.50.

Institutional Trading of Shopify

Several large investors have recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group boosted its position in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify during the 2nd quarter valued at $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the 2nd quarter valued at $33,000. Brooklyn Investment Group bought a new position in shares of Shopify during the 3rd quarter valued at $33,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. 69.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

SHOP has been the topic of several recent research reports. Morgan Stanley increased their target price on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. JMP Securities increased their target price on Shopify from $80.00 to $120.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Tuesday, September 17th. Roth Mkm increased their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company increased their target price on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.