Q4 2024 EPS Estimates for Shopify Inc. Cut by Seaport Res Ptn (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Equities researchers at Seaport Res Ptn reduced their Q4 2024 earnings estimates for Shopify in a research report issued on Monday, October 7th. Seaport Res Ptn analyst J. Cantwell now expects that the software maker will post earnings of $0.34 per share for the quarter, down from their prior estimate of $0.36. The consensus estimate for Shopify’s current full-year earnings is $0.76 per share. Seaport Res Ptn also issued estimates for Shopify’s Q4 2025 earnings at $0.46 EPS.

Other equities analysts also recently issued reports about the stock. Piper Sandler reissued a “neutral” rating and issued a $67.00 price target on shares of Shopify in a research note on Thursday, August 29th. Wells Fargo & Company boosted their target price on Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Loop Capital increased their price target on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday. Robert W. Baird boosted their price objective on Shopify from $79.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, UBS Group raised their target price on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.97.

Shopify Stock Down 0.8 %

Shares of SHOP opened at $82.71 on Wednesday. The stock has a 50 day moving average price of $73.12 and a 200 day moving average price of $68.65. Shopify has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The stock has a market capitalization of $106.59 billion, a price-to-earnings ratio of -486.53, a PEG ratio of 2.76 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Capital World Investors raised its holdings in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after acquiring an additional 713,064 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares in the last quarter. GQG Partners LLC lifted its holdings in Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares during the last quarter. Finally, Capital International Investors boosted its position in Shopify by 3.4% during the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock worth $1,264,982,000 after purchasing an additional 542,503 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

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.