Shopify (SHOP) Set to Announce Quarterly Earnings on Wednesday

Shopify (NYSE:SHOP) (TSE:SHOP) will issue its earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. On average, analysts expect Shopify to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shopify Trading Up 3.4 %

Shares of SHOP opened at $74.46 on Monday. The stock’s fifty day simple moving average is $74.73 and its 200-day simple moving average is $73.42. The firm has a market capitalization of $95.80 billion, a PE ratio of 827.43 and a beta of 2.20. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued an “underweight” rating and set a $63.00 price target on shares of Shopify in a research note on Thursday, April 11th. CIBC raised their price target on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Morgan Stanley upgraded Shopify from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $85.00 in a report on Friday, April 19th. Wedbush restated a “neutral” rating and set a $68.00 target price on shares of Shopify in a report on Tuesday, February 13th. Finally, DA Davidson upped their price target on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Shopify has a consensus rating of “Hold” and a consensus target price of $79.00.

Shopify Company Profile

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.