Shopify Inc. Forecasted to Earn Q4 2024 Earnings of $0.34 Per Share (NYSE:SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Equities researchers at Seaport Res Ptn cut their Q4 2024 earnings estimates for shares of Shopify in a research note issued to investors on Monday, October 7th. Seaport Res Ptn analyst J. Cantwell now anticipates that the software maker will post earnings of $0.34 per share for the quarter, down from their previous estimate of $0.36. The consensus estimate for Shopify’s current full-year earnings is $0.76 per share. Seaport Res Ptn also issued estimates for Shopify’s Q4 2025 earnings at $0.46 EPS.

SHOP has been the topic of several other reports. Evercore ISI boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. UBS Group boosted their price objective on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.72.

Shopify Price Performance

Shares of NYSE SHOP opened at $82.58 on Wednesday. The firm has a market capitalization of $106.42 billion, a P/E ratio of -485.76, a PEG ratio of 2.65 and a beta of 2.36. Shopify has a one year low of $45.50 and a one year high of $91.57. The company’s fifty day moving average is $72.21 and its two-hundred day moving average is $68.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS.

Hedge Funds Weigh In On Shopify

A number of institutional investors and hedge funds have recently bought and sold shares of SHOP. Perpetual Ltd boosted its stake in shares of Shopify by 3.3% during the 3rd quarter. Perpetual Ltd now owns 193,513 shares of the software maker’s stock valued at $15,508,000 after buying an additional 6,258 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of Shopify during the 3rd quarter valued at approximately $269,000. CWM LLC boosted its stake in shares of Shopify by 14.9% during the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after buying an additional 1,832 shares during the last quarter. Objectivity Squared LLC boosted its stake in shares of Shopify by 6.3% during the 3rd quarter. Objectivity Squared LLC now owns 4,997 shares of the software maker’s stock valued at $404,000 after buying an additional 298 shares during the last quarter. Finally, Gill Capital Partners LLC boosted its stake in shares of Shopify by 7.7% during the 3rd quarter. Gill Capital Partners LLC now owns 6,133 shares of the software maker’s stock valued at $491,000 after buying an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

About Shopify

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.