Equities analysts expect Shopify Inc (NYSE:SHOP) (TSE:SHOP) to report $348.60 million in sales for the current fiscal quarter, Zacks reports. Seventeen analysts have issued estimates for Shopify’s earnings. The lowest sales estimate is $345.10 million and the highest is $355.48 million. Shopify posted sales of $244.96 million during the same quarter last year, which suggests a positive year-over-year growth rate of 42.3%. The company is expected to issue its next quarterly earnings report on Tuesday, July 30th.
On average, analysts expect that Shopify will report full-year sales of $1.50 billion for the current year, with estimates ranging from $1.47 billion to $1.54 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.98 billion, with estimates ranging from $1.87 billion to $2.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Shopify.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, April 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.44. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The business had revenue of $320.50 million for the quarter, compared to analyst estimates of $310.11 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. Shopify’s revenue was up 49.6% on a year-over-year basis.
SHOP has been the subject of several research reports. Roth Capital raised their target price on Shopify from $275.00 to $225.00 in a research note on Tuesday, April 30th. Robert W. Baird raised their price target on shares of Shopify from $208.00 to $269.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Zacks Investment Research cut shares of Shopify from a “buy” rating to a “hold” rating in a research report on Thursday. Macquarie raised their price target on shares of Shopify to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, March 27th. Finally, Piper Jaffray Companies raised their price target on shares of Shopify from $149.00 to $216.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $237.71.
Shares of SHOP traded down $3.32 during trading hours on Tuesday, reaching $274.69. The stock had a trading volume of 20,190 shares, compared to its average volume of 2,257,374. Shopify has a 12 month low of $117.64 and a 12 month high of $279.48. The stock has a market capitalization of $29.16 billion, a price-to-earnings ratio of -447.90 and a beta of 1.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.57 and a current ratio of 12.56.
Institutional investors have recently bought and sold shares of the business. Financial Advocates Investment Management lifted its position in shares of Shopify by 4.2% during the 4th quarter. Financial Advocates Investment Management now owns 3,873 shares of the software maker’s stock worth $536,000 after buying an additional 155 shares in the last quarter. Bollard Group LLC raised its holdings in shares of Shopify by 1,935.0% in the 4th quarter. Bollard Group LLC now owns 20,350 shares of the software maker’s stock worth $2,817,000 after purchasing an additional 19,350 shares during the period. Henry James International Management Inc. raised its holdings in shares of Shopify by 140.7% in the 1st quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock worth $7,014,000 after purchasing an additional 19,846 shares during the period. Brown Advisory Inc. raised its holdings in shares of Shopify by 6.9% in the 4th quarter. Brown Advisory Inc. now owns 4,927 shares of the software maker’s stock worth $682,000 after purchasing an additional 318 shares during the period. Finally, Barton Investment Management raised its holdings in shares of Shopify by 5.6% in the 4th quarter. Barton Investment Management now owns 304,743 shares of the software maker’s stock worth $42,192,000 after purchasing an additional 16,208 shares during the period. 67.14% of the stock is currently owned by hedge funds and other institutional investors.
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, 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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