Shopify (NYSE:SHOP) (TSE:SHOP) posted its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.44, MarketWatch Earnings reports. The company had revenue of $320.50 million for the quarter, compared to the consensus estimate of $310.11 million. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The company’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.04 EPS. Shopify updated its FY 2019 guidance to EPS and its Q2 2019 guidance to EPS.
NYSE SHOP traded up $6.19 on Wednesday, reaching $279.00. The stock had a trading volume of 1,159,472 shares, compared to its average volume of 1,620,164. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.56 and a quick ratio of 12.57. Shopify has a 1 year low of $117.64 and a 1 year high of $280.95. The company has a market capitalization of $29.90 billion, a P/E ratio of -457.38 and a beta of 1.57.
A number of equities analysts recently issued reports on SHOP shares. Zacks Investment Research upgraded Shopify from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. Wedbush restated an “outperform” rating and issued a $177.00 target price on shares of Shopify in a report on Monday, January 28th. Royal Bank of Canada lifted their target price on Shopify from $159.00 to $180.00 and gave the stock a “sector perform” rating in a report on Monday, February 11th. Canaccord Genuity lifted their price target on Shopify from $165.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, February 12th. Finally, DA Davidson lifted their price target on Shopify from $150.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $237.71.
A number of hedge funds and other institutional investors have recently modified their holdings of SHOP. WCM Investment Management LLC lifted its position in shares of Shopify by 5.7% in the fourth quarter. WCM Investment Management LLC now owns 6,599,190 shares of the software maker’s stock worth $913,657,000 after buying an additional 357,313 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Shopify by 56.3% in the first quarter. Baillie Gifford & Co. now owns 5,920,039 shares of the software maker’s stock worth $1,223,199,000 after buying an additional 2,132,030 shares during the last quarter. Morgan Stanley lifted its position in shares of Shopify by 91.7% in the first quarter. Morgan Stanley now owns 4,312,294 shares of the software maker’s stock worth $891,007,000 after buying an additional 2,063,041 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Shopify by 7.0% in the first quarter. Jennison Associates LLC now owns 1,403,846 shares of the software maker’s stock worth $290,063,000 after buying an additional 91,669 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its position in shares of Shopify by 378.5% in the first quarter. CIBC World Markets Inc. now owns 865,184 shares of the software maker’s stock worth $178,764,000 after buying an additional 684,365 shares during the last quarter. Hedge funds and other institutional investors own 67.14% of the company’s stock.
Shopify Company Profile
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.
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