Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP - Equities research analysts at Seaport Res Ptn dropped their FY2024 earnings estimates for Shopify in a research report issued on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now forecasts that the software maker will post earnings of $0.78 per share for the year, down from their prior estimate of $0.84. The consensus estimate for Shopify's current full-year earnings is $0.58 per share. Seaport Res Ptn also issued estimates for Shopify's Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.27 EPS and FY2025 earnings at $1.18 EPS.
Several other analysts have also weighed in on the stock. National Bankshares boosted their target price on shares of Shopify from $80.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, January 26th. ATB Capital boosted their target price on shares of Shopify from $105.00 to $110.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 14th. Wells Fargo & Company lowered their target price on shares of Shopify from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Wedbush reiterated a "neutral" rating and set a $68.00 target price on shares of Shopify in a research note on Tuesday, February 13th. Finally, CIBC boosted their target price on shares of Shopify from $82.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $78.00.
Get Our Latest Stock Analysis on Shopify
Shopify Stock Up 1.1 %
Shares of NYSE:SHOP traded up $0.73 during midday trading on Wednesday, reaching $69.43. The company had a trading volume of 8,372,450 shares, compared to its average volume of 9,527,545. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock's fifty day moving average price is $77.14 and its 200-day moving average price is $71.75. The stock has a market capitalization of $89.33 billion, a P/E ratio of 771.53 and a beta of 2.22. Shopify has a one year low of $45.50 and a one year high of $91.57.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in SHOP. Private Wealth Management Group LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $26,000. SJS Investment Consulting Inc. lifted its position in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock worth $27,000 after acquiring an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. acquired a new position in Shopify during the 2nd quarter worth $27,000. DSM Capital Partners LLC acquired a new position in Shopify during the 4th quarter worth $28,000. Finally, Jones Financial Companies Lllp acquired a new position in Shopify during the 4th quarter worth $28,000. Institutional investors and hedge funds own 69.27% of the company's stock.
Shopify Company Profile
(
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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.
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