Wedbush Comments on Shopify’s FY2024 Earnings (TSE:SHO)

Shopify Inc. (TSE:SHO) – Stock analysts at Wedbush increased their FY2024 earnings per share (EPS) estimates for shares of Shopify in a note issued to investors on Monday, January 6th. Wedbush analyst S. Devitt now anticipates that the company will post earnings of $1.23 per share for the year, up from their prior forecast of $1.19. Wedbush currently 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.

A number of other research firms have also weighed in on SHO. Redburn Atlantic raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 17th. Loop Capital raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and seven have issued a strong buy rating to the company’s stock. According to MarketBeat, Shopify currently has a consensus rating of “Buy”.

Shopify Stock Performance

Shopify (TSE:SHO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.13. The firm had revenue of C$2.95 billion during the quarter, compared to the consensus estimate of C$2.90 billion.

Shopify Company Profile

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.