Shopify (NYSE:SHOP) Posts Quarterly Earnings Results
Shopify (NYSE:SHOP) (TSE:SHOP) announced its earnings results on Wednesday. The software maker reported $1.05 EPS for the quarter, topping the consensus estimate of $0.01 by $1.04, MarketWatch Earnings reports. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.36%. The company had revenue of $714.34 million during the quarter, compared to analysts’ expectations of $511.56 million. During the same period last year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 97.3% on a year-over-year basis.
Shares of Shopify stock traded down $11.04 during trading on Friday, reaching $1,037.80. The company’s stock had a trading volume of 44,691 shares, compared to its average volume of 2,926,888. The stock has a 50-day moving average price of $929.03 and a two-hundred day moving average price of $638.32. The company has a current ratio of 9.45, a quick ratio of 9.45 and a debt-to-equity ratio of 0.04. Shopify has a one year low of $282.08 and a one year high of $1,107.92. The stock has a market capitalization of $121.46 billion, a P/E ratio of -1,749.63 and a beta of 1.61.
Several brokerages have commented on SHOP. Jefferies Financial Group reiterated a “hold” rating and issued a $725.00 target price on shares of Shopify in a report on Tuesday. Zacks Investment Research upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $866.00 price target for the company in a report on Tuesday, May 26th. DA Davidson raised their price target on shares of Shopify from $650.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Thursday. Guggenheim restated a “hold” rating on shares of Shopify in a report on Friday, July 24th. Finally, Roth Capital raised their price target on shares of Shopify from $800.00 to $850.00 in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $927.71.
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.
Recommended Story: What is a recession?
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.