Shopify Inc. (NYSE:SHOP) to Post Q2 2024 Earnings of $0.15 Per Share, Capital One Financial Forecasts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Research analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for shares of Shopify in a research report issued on Thursday, July 11th. Capital One Financial analyst C. Murphy now anticipates that the software maker will post earnings per share of $0.15 for the quarter, down from their prior estimate of $0.16. The consensus estimate for Shopify’s current full-year earnings is $0.62 per share.

Several other equities research analysts have also recently commented on SHOP. BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. Moffett Nathanson downgraded Shopify from a “buy” rating to a “neutral” rating and cut their target price for the stock from $74.00 to $65.00 in a research note on Thursday, June 6th. JPMorgan Chase & Co. initiated coverage on shares of Shopify in a research report on Tuesday, June 11th. They set an “overweight” rating and a $74.00 price target on the stock. Atb Cap Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Finally, Barclays decreased their target price on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.03.

Shopify Trading Down 0.6 %

SHOP opened at $64.89 on Monday. The firm has a market capitalization of $83.62 billion, a price-to-earnings ratio of -381.71, a price-to-earnings-growth ratio of 3.24 and a beta of 2.30. The company’s 50 day simple moving average is $63.05 and its two-hundred day simple moving average is $72.22. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion.

Institutional Trading of Shopify

A number of institutional investors have recently bought and sold shares of the business. Private Wealth Management Group LLC acquired a new stake in shares of Shopify during the 4th quarter worth about $26,000. SJS Investment Consulting Inc. lifted its position in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares during the last quarter. DSM Capital Partners LLC acquired a new position in shares of Shopify in the 4th quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in shares of Shopify in the 4th quarter valued at $28,000. Finally, Your Advocates Ltd. LLP raised its stake in Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.