Brokerages Anticipate Shopify Inc (NYSE:SHOP) Will Post Quarterly Sales of $350.06 Million

Equities analysts predict that Shopify Inc (NYSE:SHOP) (TSE:SHOP) will post sales of $350.06 million for the current quarter, Zacks Investment Research reports. Twenty Three analysts have made estimates for Shopify’s earnings, with the highest sales estimate coming in at $362.48 million and the lowest estimate coming in at $345.10 million. Shopify reported sales of $244.96 million during the same quarter last year, which indicates a positive year-over-year growth rate of 42.9%. The company is expected to report its next earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Shopify will report full-year sales of $1.51 billion for the current year, with estimates ranging from $1.47 billion to $1.57 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.00 billion, with estimates ranging from $1.91 billion to $2.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Shopify.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.35) by $0.44. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The company had revenue of $320.50 million for the quarter, compared to analyst estimates of $310.11 million. During the same period last year, the company earned $0.04 earnings per share. Shopify’s quarterly revenue was up 49.6% compared to the same quarter last year.

SHOP has been the topic of a number of research analyst reports. National Bank Financial lifted their target price on Shopify from $270.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. KeyCorp initiated coverage on Shopify in a report on Monday, April 29th. They issued an “overweight” rating and a $250.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $395.00 price objective (up from $295.00) on shares of Shopify in a research note on Thursday, June 20th. Roth Capital upped their price objective on Shopify from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Credit Suisse Group increased their target price on Shopify from $190.00 to $275.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $295.92.

Shares of SHOP opened at $1,179,371,010.00 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.57 and a current ratio of 12.56. Shopify has a 12 month low of $117.64 and a 12 month high of $338.94. The firm has a 50 day simple moving average of $288.08. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of -1,933,395,098.36 and a beta of 1.35.

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Advocates Investment Management increased its stake in Shopify by 4.2% in the fourth quarter. Financial Advocates Investment Management now owns 3,873 shares of the software maker’s stock valued at $536,000 after acquiring an additional 155 shares during the period. Henry James International Management Inc. grew its stake in Shopify by 140.7% during the first quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock worth $7,014,000 after buying an additional 19,846 shares during the last quarter. Brown Advisory Inc. grew its stake in Shopify by 6.9% during the fourth quarter. Brown Advisory Inc. now owns 4,927 shares of the software maker’s stock worth $682,000 after buying an additional 318 shares during the last quarter. Cipher Capital LP bought a new stake in Shopify during the fourth quarter worth about $1,290,000. Finally, Mn Services Vermogensbeheer B.V. grew its stake in Shopify by 249.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 47,912 shares of the software maker’s stock worth $5,793,000 after buying an additional 34,194 shares during the last quarter. 66.47% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: What are the benefits of a balanced fund?

Get a free copy of the Zacks research report on Shopify (SHOP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.