Capital One Financial Estimates Shopify FY2024 Earnings

Shopify Inc. (TSE:SHO) – Stock analysts at Capital One Financial lifted their FY2024 earnings estimates for Shopify in a research report issued on Wednesday, January 15th. Capital One Financial analyst C. Murphy now forecasts that the company will post earnings of $1.44 per share for the year, up from their prior estimate of $1.39. Capital One Financial also issued estimates for Shopify’s Q4 2024 earnings at $0.64 EPS, Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $1.22 EPS.

Several other brokerages have also recently commented on SHO. New Street Research raised Shopify to a “hold” rating in a research note on Friday, January 10th. Wedbush raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and seven have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Shopify Stock Performance

Shopify (TSE:SHO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.37 EPS for the quarter, beating the consensus estimate of C$0.24 by C$0.13. The company had revenue of C$2.95 billion for the quarter, compared to analysts’ expectations of C$2.90 billion.

About Shopify

ICC Labs Inc is a medicinal and recreational cannabis producer based in South America. The firm primarily producing, researching and marketing cannabis for medical and recreational uses, and hemp-based products. The company’s operations are organized into two operating segments, Recreational segment and Cannabinoids Extraction segment.