DA Davidson Issues Optimistic Forecast for Shopify Earnings

Shopify Inc. (TSE:SHO) – Equities researchers at DA Davidson raised their FY2024 earnings per share (EPS) estimates for Shopify in a report issued on Wednesday, November 13th. DA Davidson analyst G. Luria now forecasts that the company will post earnings of $1.24 per share for the year, up from their prior forecast of $0.96. DA Davidson also issued estimates for Shopify’s Q4 2024 earnings at $0.45 EPS and FY2025 earnings at $1.59 EPS.

Shopify (TSE:SHO) last announced its earnings results on Tuesday, November 12th. The company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.24 by C$0.13. The business had revenue of C$2.95 billion for the quarter, compared to analyst estimates of C$2.90 billion.

A number of other analysts also recently commented on the stock. Argus upgraded shares of Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Cantor Fitzgerald raised Shopify to a “hold” rating in a research note on Thursday, September 5th. Evercore ISI upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Redburn Atlantic upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a hold rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Shopify Price Performance

About Shopify

Sunstone Hotel Investors, Inc is a lodging real estate investment trust (“REIT”) that as of the date of this release has interests in 19 hotels comprised of 9,997 rooms. Sunstone’s business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.