FY2024 Earnings Estimate for Shopify Issued By Wedbush

Shopify Inc. (TSE:SHO) – Research analysts at Wedbush raised their FY2024 EPS estimates for shares of Shopify in a research report issued on Monday, January 6th. Wedbush analyst S. Devitt now expects that the company will post earnings per share of $1.23 for the year, up from their prior forecast of $1.19. Wedbush has a “Strong-Buy” rating on the stock. Wedbush also issued estimates for Shopify’s Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.57 EPS, FY2025 earnings at $1.53 EPS and FY2026 earnings at $2.15 EPS.

Shopify (TSE:SHO) last released its quarterly earnings data on Tuesday, November 12th. The company reported C$0.37 EPS for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.13. The company had revenue of C$2.95 billion for the quarter, compared to analysts’ expectations of C$2.90 billion.

Other analysts have also recently issued research reports about the company. Redburn Atlantic upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 17th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Loop Capital raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and seven have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

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About Shopify

ICC Labs Inc is a medicinal and recreational cannabis producer based in South America. The firm primarily producing, researching and marketing cannabis for medical and recreational uses, and hemp-based products. The company’s operations are organized into two operating segments, Recreational segment and Cannabinoids Extraction segment.