Shopify (NYSE:SHOP) Announces Quarterly Earnings Results

Shopify (NYSE:SHOP) (TSE:SHOP) released its quarterly earnings data on Thursday. The software maker reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.45, Briefing.com reports. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.95%. The business had revenue of $361.98 million during the quarter, compared to analyst estimates of $350.59 million. During the same quarter last year, the business earned $0.02 earnings per share. Shopify’s quarterly revenue was up 47.8% compared to the same quarter last year. Shopify updated its FY 2019 guidance to EPS and its Q3 2019 guidance to EPS.

SHOP stock traded down $9.20 during trading on Friday, hitting $332.19. The company had a trading volume of 1,978,799 shares, compared to its average volume of 1,937,231. The stock has a market cap of $38.08 billion, a price-to-earnings ratio of -544.57 and a beta of 1.30. Shopify has a 52-week low of $117.64 and a 52-week high of $350.79. The firm has a 50 day moving average of $317.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.56 and a quick ratio of 12.57.

SHOP has been the subject of several research reports. DA Davidson increased their price objective on shares of Shopify from $290.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley lowered shares of Shopify from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $173.00 to $209.00 in a research report on Tuesday, May 14th. They noted that the move was a valuation call. KeyCorp increased their price objective on shares of Shopify from $350.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday. SunTrust Banks increased their price objective on shares of Shopify to $245.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $410.00 price objective on shares of Shopify in a research report on Friday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. Shopify has a consensus rating of “Hold” and a consensus price target of $324.19.

A number of hedge funds have recently bought and sold shares of the stock. Founders Financial Securities LLC increased its stake in Shopify by 1.2% in the 2nd quarter. Founders Financial Securities LLC now owns 3,509 shares of the software maker’s stock worth $1,053,000 after buying an additional 43 shares during the period. Ropes Wealth Advisors LLC increased its stake in Shopify by 41.0% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock worth $44,000 after buying an additional 43 shares during the period. Executive Wealth Management LLC increased its stake in Shopify by 34.6% in the 1st quarter. Executive Wealth Management LLC now owns 175 shares of the software maker’s stock worth $36,000 after buying an additional 45 shares during the period. Nadler Financial Group Inc. increased its stake in Shopify by 1.2% in the 2nd quarter. Nadler Financial Group Inc. now owns 3,985 shares of the software maker’s stock worth $1,196,000 after buying an additional 46 shares during the period. Finally, Welch & Forbes LLC increased its stake in Shopify by 3.4% in the 2nd quarter. Welch & Forbes LLC now owns 1,500 shares of the software maker’s stock worth $450,000 after buying an additional 50 shares during the period. 67.81% of the stock is currently owned by institutional investors.

About Shopify

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.

See Also: Asset Allocation

Earnings History for Shopify (NYSE:SHOP)

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