Zacks: Analysts Expect Shopify Inc. (NYSE:SHOP) to Post -$0.20 Earnings Per Share

Equities analysts expect Shopify Inc. (NYSE:SHOP) (TSE:SH) to post earnings per share (EPS) of ($0.20) for the current quarter, Zacks reports. Nine analysts have made estimates for Shopify’s earnings. The lowest EPS estimate is ($0.21) and the highest is ($0.18). Shopify posted earnings per share of ($0.10) in the same quarter last year, which would indicate a negative year over year growth rate of 100%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, August 2nd.

On average, analysts expect that Shopify will report full-year earnings of ($0.70) per share for the current year, with EPS estimates ranging from ($0.73) to ($0.67). For the next fiscal year, analysts forecast that the company will report earnings of ($0.53) per share, with EPS estimates ranging from ($0.92) to ($0.21). Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Shopify.

Shopify (NYSE:SHOP) (TSE:SH) last released its earnings results on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The company had revenue of $127.40 million during the quarter, compared to the consensus estimate of $121.67 million. Shopify had a negative return on equity of 11.26% and a negative net margin of 9.01%. The firm’s quarterly revenue was up 75.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share.

Several research analysts have recently weighed in on SHOP shares. Vetr lowered Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price objective for the company. in a research report on Thursday, June 22nd. Roth Capital reiterated a “buy” rating and set a $92.00 price target (up previously from $82.00) on shares of Shopify in a research note on Friday, May 5th. Barclays PLC lifted their price target on Shopify from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 3rd. BidaskClub downgraded Shopify from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Robert W. Baird restated an “outperform” rating on shares of Shopify in a research note on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Shopify has an average rating of “Buy” and an average target price of $79.11.

Shares of Shopify (NYSE:SHOP) opened at 91.29 on Wednesday. The company has a 50-day moving average price of $91.40 and a 200-day moving average price of $68.12. Shopify has a 12-month low of $30.54 and a 12-month high of $100.80. The company’s market cap is $8.35 billion.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Shopify during the fourth quarter valued at about $2,037,000. A.R.T. Advisors LLC bought a new position in shares of Shopify during the fourth quarter valued at about $265,000. AQR Capital Management LLC bought a new position in shares of Shopify during the fourth quarter valued at about $203,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Shopify by 55.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,511 shares of the software maker’s stock valued at $193,000 after buying an additional 1,608 shares during the period. Finally, Norges Bank bought a new position in shares of Shopify during the fourth quarter valued at about $14,251,000. Institutional investors own 61.29% of the company’s stock.

About Shopify

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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