FY2024 EPS Estimates for Shopify Inc. (NYSE:SHOP) Decreased by Analyst

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Stock analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for Shopify in a research note issued on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now forecasts that the software maker will earn $0.78 per share for the year, down from their prior forecast of $0.84. The consensus estimate for Shopify’s current full-year earnings is $0.58 per share. Seaport Res Ptn also issued estimates for Shopify’s Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.27 EPS and FY2025 earnings at $1.18 EPS.

A number of other brokerages also recently commented on SHOP. National Bankshares boosted their price objective on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. The Goldman Sachs Group boosted their price objective on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. BNP Paribas downgraded Shopify from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 18th. Wedbush reissued a “neutral” rating and set a $68.00 price objective on shares of Shopify in a research report on Tuesday, February 13th. Finally, Piper Sandler reissued an “underweight” rating and set a $63.00 price objective on shares of Shopify in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.00.

Shopify Stock Up 0.1 %

Shares of NYSE:SHOP opened at $69.51 on Wednesday. Shopify has a 1 year low of $45.50 and a 1 year high of $91.57. The firm has a market capitalization of $89.43 billion, a PE ratio of 772.42 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm’s 50-day moving average is $76.77 and its two-hundred day moving average is $71.73.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Baillie Gifford & Co. grew its holdings in Shopify by 2.3% in the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after purchasing an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. grew its holdings in Shopify by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock valued at $3,284,910,000 after purchasing an additional 1,242,067 shares during the last quarter. Capital World Investors grew its holdings in Shopify by 28.7% in the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock valued at $3,071,197,000 after purchasing an additional 8,789,411 shares during the last quarter. Capital International Investors grew its holdings in Shopify by 9.7% in the fourth quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock valued at $1,235,534,000 after purchasing an additional 1,399,562 shares during the last quarter. Finally, Norges Bank acquired a new stake in Shopify in the fourth quarter valued at $1,049,089,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.