Shopify (NYSE:SHOP) Announces Earnings Results, Beats Expectations By $0.06 EPS

Shopify (NYSE:SHOP) (TSE:SHOP) posted its quarterly earnings results on Wednesday. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06, Briefing.com reports. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. Shopify’s revenue for the quarter was up 20.7% compared to the same quarter last year.

Shopify Stock Performance

SHOP traded up $0.75 during trading on Friday, reaching $69.30. 10,931,244 shares of the company were exchanged, compared to its average volume of 10,422,090. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $63.43 and a 200 day moving average of $69.89. The stock has a market cap of $89.31 billion, a P/E ratio of -407.65, a PEG ratio of 3.14 and a beta of 2.30.

Analyst Upgrades and Downgrades

SHOP has been the subject of several recent research reports. Wedbush reissued a “neutral” rating and issued a $72.00 price objective (up previously from $68.00) on shares of Shopify in a research report on Wednesday. Barclays raised their price objective on Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. initiated coverage on Shopify in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $74.00 target price for the company. UBS Group raised their target price on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday. Finally, KeyCorp started coverage on Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average price target of $77.24.

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.