Shopify (NYSE:SHOP) Posts Earnings Results

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Shopify (NYSE:SHOP) (TSE:SHOP) announced its quarterly earnings results on Wednesday. The software maker reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.29, reports. Shopify had a negative net margin of 8.97% and a negative return on equity of 3.36%. The firm had revenue of $505.16 million during the quarter, compared to the consensus estimate of $482.26 million. Shopify updated its Q1 2020
Pre-Market guidance to EPS and its FY 2020
Pre-Market guidance to EPS.

SHOP stock traded down $1.75 during midday trading on Friday, reaching $531.22. The stock had a trading volume of 2,206,751 shares, compared to its average volume of 2,173,423. The business has a fifty day simple moving average of $449.15 and a two-hundred day simple moving average of $368.66. The company has a quick ratio of 11.21, a current ratio of 11.21 and a debt-to-equity ratio of 0.04. The firm has a market cap of $56.71 billion, a price-to-earnings ratio of -470.11 and a beta of 1.19. Shopify has a twelve month low of $173.71 and a twelve month high of $593.89.

A number of hedge funds have recently made changes to their positions in the stock. Advisory Alpha LLC increased its holdings in Shopify by 8.2% in the fourth quarter. Advisory Alpha LLC now owns 263 shares of the software maker’s stock valued at $116,000 after purchasing an additional 20 shares during the last quarter. Wealthsource Partners LLC boosted its holdings in Shopify by 1.7% during the fourth quarter. Wealthsource Partners LLC now owns 1,229 shares of the software maker’s stock worth $489,000 after buying an additional 21 shares during the last quarter. Rudd International Inc. boosted its holdings in Shopify by 1.3% during the fourth quarter. Rudd International Inc. now owns 1,811 shares of the software maker’s stock worth $720,000 after buying an additional 24 shares during the last quarter. B. Riley Wealth Management Inc. grew its position in shares of Shopify by 2.6% during the 4th quarter. B. Riley Wealth Management Inc. now owns 989 shares of the software maker’s stock worth $393,000 after buying an additional 25 shares during the period. Finally, Gradient Investments LLC grew its position in shares of Shopify by 32.2% during the 4th quarter. Gradient Investments LLC now owns 160 shares of the software maker’s stock worth $64,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 57.36% of the company’s stock.

Several analysts have weighed in on SHOP shares. UBS Group reaffirmed an “underperform” rating and set a $450.00 price objective on shares of Shopify in a research note on Thursday. They noted that the move was a valuation call. National Bank Financial boosted their target price on Shopify from $450.00 to $500.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Credit Suisse Group downgraded Shopify from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $450.00 to $575.00 in a report on Wednesday. They noted that the move was a valuation call. Raymond James reaffirmed an “outperform” rating and set a $600.00 price target (up from $365.00) on shares of Shopify in a report on Wednesday. Finally, Mizuho began coverage on Shopify in a report on Thursday, January 9th. They set a “neutral” rating and a $410.00 price target for the company. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company’s stock. Shopify currently has an average rating of “Hold” and an average target price of $460.46.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Earnings History for Shopify (NYSE:SHOP)

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