Shopify (NYSE:SHOP) Issues Quarterly Earnings Results

Shopify (NYSE:SHOP) (TSE:SHOP) posted its quarterly earnings results on Wednesday. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06, Briefing.com reports. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share.

Shopify Price Performance

NYSE SHOP traded up $0.75 on Friday, reaching $69.30. The company’s stock had a trading volume of 10,931,244 shares, compared to its average volume of 10,422,090. The firm has a market cap of $89.31 billion, a PE ratio of -407.65, a price-to-earnings-growth ratio of 3.14 and a beta of 2.30. The business has a 50-day moving average price of $63.43 and a 200 day moving average price of $69.89. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10.

Analyst Upgrades and Downgrades

SHOP has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Shopify in a research report on Thursday. BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group lowered their price objective on shares of Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. CIBC lowered their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating on the stock in a research report on Thursday, May 9th. Finally, Loop Capital lowered their price objective on shares of Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.24.

About Shopify

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.