Research Analysts Issue Forecasts for Shopify Inc.’s Q4 2024 Earnings (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Stock analysts at Seaport Res Ptn reduced their Q4 2024 earnings estimates for Shopify in a research report issued on Monday, October 7th. Seaport Res Ptn analyst J. Cantwell now forecasts that the software maker will post earnings of $0.34 per share for the quarter, down from their prior estimate of $0.36. The consensus estimate for Shopify’s current full-year earnings is $0.76 per share. Seaport Res Ptn also issued estimates for Shopify’s Q4 2025 earnings at $0.46 EPS.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year.

Several other research firms have also recently commented on SHOP. Argus upgraded shares of Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. KeyCorp started coverage on shares of Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 target price for the company. Morgan Stanley boosted their price target on shares of Shopify from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Shopify in a report on Monday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $78.97.

Shopify Price Performance

NYSE:SHOP opened at $83.43 on Wednesday. The stock has a market cap of $107.51 billion, a P/E ratio of -490.74, a PEG ratio of 2.76 and a beta of 2.36. Shopify has a one year low of $45.50 and a one year high of $91.57. The company has a fifty day moving average price of $72.68 and a 200 day moving average price of $68.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32.

Institutional Investors Weigh In On Shopify

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Davies Financial Advisors Inc. acquired a new stake in shares of Shopify during the third quarter worth $204,000. JGP Wealth Management LLC lifted its holdings in shares of Shopify by 4.6% during the third quarter. JGP Wealth Management LLC now owns 5,006 shares of the software maker’s stock worth $401,000 after buying an additional 219 shares in the last quarter. Congress Park Capital LLC lifted its holdings in shares of Shopify by 16.1% during the third quarter. Congress Park Capital LLC now owns 6,300 shares of the software maker’s stock worth $505,000 after buying an additional 875 shares in the last quarter. Watts Gwilliam & Co. LLC acquired a new stake in shares of Shopify during the third quarter worth $723,000. Finally, LifePro Asset Management acquired a new stake in shares of Shopify during the third quarter worth $3,071,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Company Profile

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.