$0.84 Earnings Per Share Expected for Shopify Inc. (NYSE:SHOP) This Quarter

Equities research analysts expect Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) to announce earnings of $0.84 per share for the current fiscal quarter, Zacks Investment Research reports. Thirty Four analysts have provided estimates for Shopify’s earnings, with estimates ranging from ($0.17) to $2.04. Shopify posted earnings per share of $2.24 in the same quarter last year, which suggests a negative year over year growth rate of 62.5%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Shopify will report full year earnings of $3.05 per share for the current year, with EPS estimates ranging from ($0.40) to $7.55. For the next year, analysts anticipate that the company will post earnings of $4.21 per share, with EPS estimates ranging from ($0.87) to $10.12. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Shopify.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last posted its quarterly earnings data on Thursday, May 5th. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.59. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.24 billion. Shopify had a return on equity of 1.94% and a net margin of 3.77%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 EPS.

Several equities research analysts recently issued reports on the company. Benchmark started coverage on Shopify in a report on Wednesday, April 13th. They issued a “hold” rating on the stock. Piper Sandler cut their price target on Shopify from $900.00 to $800.00 and set an “overweight” rating on the stock in a report on Tuesday, April 19th. Barclays cut their price target on Shopify from $1,800.00 to $1,200.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 1st. Canaccord Genuity Group lowered their price objective on Shopify from $1,450.00 to $800.00 in a research report on Thursday, February 17th. Finally, The Goldman Sachs Group lowered their price objective on Shopify from $1,570.00 to $833.00 and set a “neutral” rating for the company in a research report on Thursday, February 17th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $941.05.

A number of institutional investors have recently modified their holdings of SHOP. First Trust Advisors LP boosted its holdings in Shopify by 15.6% in the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after acquiring an additional 472 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Shopify during the third quarter worth about $293,000. BOKF NA purchased a new stake in shares of Shopify during the third quarter worth about $1,799,000. Magnetar Financial LLC increased its position in shares of Shopify by 29.2% during the third quarter. Magnetar Financial LLC now owns 2,627 shares of the software maker’s stock worth $3,562,000 after acquiring an additional 593 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Shopify during the third quarter worth about $355,000. Hedge funds and other institutional investors own 62.60% of the company’s stock.

Shares of SHOP stock traded down $27.48 on Friday, hitting $363.85. The stock had a trading volume of 5,664,262 shares, compared to its average volume of 5,658,958. The company has a debt-to-equity ratio of 0.12, a current ratio of 11.84 and a quick ratio of 11.84. The firm has a market capitalization of $45.81 billion, a P/E ratio of 291.08 and a beta of 1.82. Shopify has a 1 year low of $308.06 and a 1 year high of $1,762.92. The company’s 50 day moving average price is $546.74 and its 200-day moving average price is $934.68.

Shopify’s stock is going to split on Wednesday, June 29th. The 10-1 split was announced on Monday, April 11th. The newly minted shares will be issued to shareholders after the market closes on Tuesday, June 28th.

Shopify Company Profile (Get Rating)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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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