Shopify (NYSE:SHOP) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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

Shopify Price Performance

NYSE SHOP traded up $0.75 during trading hours on Friday, reaching $69.30. 10,931,244 shares of the company’s stock were exchanged, compared to its average volume of 10,422,090. The firm has a fifty day moving average of $63.43 and a 200-day moving average of $69.89. Shopify has a one year low of $45.50 and a one year high of $91.57. The stock 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 company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10.

Analyst Ratings Changes

Several research analysts have commented on SHOP shares. Deutsche Bank Aktiengesellschaft lifted their price target on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Loop Capital reduced their price target on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 15th. Scotiabank decreased their price target on shares of Shopify from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 9th. Atb Cap Markets raised shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Finally, CIBC decreased their target price on Shopify from $100.00 to $85.00 and set an “outperformer” rating on the stock in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.