Brokerages expect Shopify Inc (NYSE:SHOP) (TSE:SHOP) to report $256.33 million in sales for the current quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Shopify’s earnings. The lowest sales estimate is $254.10 million and the highest is $261.00 million. Shopify posted sales of $171.46 million in the same quarter last year, which indicates a positive year-over-year growth rate of 49.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 30th.

On average, analysts expect that Shopify will report full year sales of $1.03 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.05 billion. For the next financial year, analysts anticipate that the business will report sales of $1.42 billion per share, with estimates ranging from $1.36 billion to $1.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Shopify.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.30. The business had revenue of $245.00 million during the quarter, compared to analyst estimates of $234.72 million. Shopify had a negative return on equity of 3.77% and a negative net margin of 6.12%. Shopify’s quarterly revenue was up 61.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS.

Several equities research analysts have recently issued reports on SHOP shares. National Bank Financial raised their target price on Shopify from $160.00 to $180.00 and gave the company a “$173.26” rating in a research report on Monday, July 23rd. Morgan Stanley set a $140.00 target price on Shopify and gave the company a “hold” rating in a research report on Tuesday, May 22nd. Barclays decreased their target price on Shopify from $155.00 to $145.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 1st. They noted that the move was a valuation call. Royal Bank of Canada raised their target price on Shopify from $126.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, July 26th. Finally, Rosenblatt Securities started coverage on Shopify in a research report on Tuesday, September 4th. They set a “buy” rating and a $188.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Shopify has an average rating of “Buy” and an average target price of $163.95.

NYSE SHOP traded down $0.27 on Friday, reaching $154.50. The company had a trading volume of 56,042 shares, compared to its average volume of 1,249,410. The firm has a market capitalization of $16.29 billion, a P/E ratio of -369.85 and a beta of 1.17. Shopify has a 52-week low of $89.35 and a 52-week high of $176.60. The company has a current ratio of 12.89, a quick ratio of 12.89 and a debt-to-equity ratio of 0.01.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Resources Investment Advisors Inc. boosted its stake in Shopify by 10,257.1% in the 2nd quarter. Resources Investment Advisors Inc. now owns 725 shares of the software maker’s stock worth $106,000 after purchasing an additional 718 shares during the period. Next Century Growth Investors LLC bought a new position in Shopify in the 1st quarter worth about $115,000. Signaturefd LLC bought a new position in Shopify in the 1st quarter worth about $132,000. Shine Investment Advisory Services Inc. bought a new position in Shopify in the 2nd quarter worth about $159,000. Finally, Captrust Financial Advisors boosted its position in shares of Shopify by 643.3% during the 2nd quarter. Captrust Financial Advisors now owns 1,115 shares of the software maker’s stock valued at $163,000 after acquiring an additional 965 shares during the last quarter. 60.74% of the stock is owned by institutional investors.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, 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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Earnings History and Estimates for Shopify (NYSE:SHOP)

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