Shopify Inc. (SHOP) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Shopify Inc. (NYSE:SHOP) (TSE:SH) posted its earnings results on Tuesday. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06, Briefing.com reports. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The firm had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $166.16 million. During the same period in the previous year, the business posted ($0.02) EPS. The business’s revenue was up 72.2% compared to the same quarter last year.
Shares of Shopify (NYSE:SHOP) traded down 11.2583% during midday trading on Tuesday, hitting $97.0479. 8,736,987 shares of the company were exchanged. The stock’s market capitalization is $9.56 billion. The company has a 50-day moving average price of $108.83 and a 200-day moving average price of $108.83. Shopify has a 52-week low of $37.74 and a 52-week high of $123.94.
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SHOP has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Friday, July 28th. Vetr upgraded shares of Shopify from a “buy” rating to a “strong-buy” rating and set a $102.78 target price for the company in a research note on Monday, July 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $110.00 target price on shares of Shopify in a research note on Tuesday, September 5th. BidaskClub cut shares of Shopify from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $110.00 target price on shares of Shopify in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $99.03.
Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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