Shopify (NYSE:SHOP) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Shopify (NYSE:SHOP) (TSE:SHOP) announced its earnings results on Tuesday. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10), Zacks reports. Shopify had a net margin of 16.84% and a return on equity of 11.60%.

Shopify Trading Up 2.1 %

NYSE SHOP opened at $119.88 on Tuesday. The firm has a market capitalization of $154.89 billion, a PE ratio of 112.04, a P/E/G ratio of 2.49 and a beta of 2.47. The stock’s 50 day moving average is $110.91 and its 200 day moving average is $90.95. Shopify has a twelve month low of $48.56 and a twelve month high of $123.41. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Analyst Ratings Changes

SHOP has been the topic of several research reports. Scotiabank raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Monday. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $115.00 to $125.00 in a report on Monday, January 6th. Piper Sandler increased their price objective on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.80.

Shopify Company Profile

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.