Shopify (NYSE:SHOP) Releases Earnings Results

Shopify (NYSE:SHOP) (TSE:SHOP) announced its quarterly earnings data on Tuesday. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10), Zacks reports. Shopify had a net margin of 16.84% and a return on equity of 11.60%.

Shopify Trading Up 2.1 %

Shares of SHOP opened at $119.88 on Tuesday. The firm’s 50-day moving average is $110.91 and its two-hundred day moving average is $90.95. Shopify has a twelve month low of $48.56 and a twelve month high of $123.41. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $154.89 billion, a P/E ratio of 112.04, a PEG ratio of 2.49 and a beta of 2.47.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Truist Financial raised their target price on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $140.00 in a report on Friday, December 6th. Finally, Wedbush upgraded shares of Shopify from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $115.00 to $125.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.80.

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.