Shopify Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Shopify Inc. SHOP will release earnings results for its third quarter, before the opening bell on Tuesday, Nov. 12.

Analysts expect the Ottawa, Canada-based company to report quarterly earnings at 37 cents per share, up from 32 cents per share in the year-ago period. Shopify projects to report revenue of $2.94 billion for the quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in seven straight quarters.

Shopify shares gained 3.3% to close at $89.99 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Scotiabank analyst Kevin Krishnaratne maintained a Sector Perform rating and raised the price target from $75 to $80 on Oct. 24. This analyst has an accuracy rate of 71%.
• RBC Capital analyst Paul Treiber maintained an Outperform rating and boosted the price target from $85 to $100 on Oct. 18. This analyst has an accuracy rate of 68%.
• Baird analyst Colin Sebastian maintained an Outperform rating and increased the price target from $79 to $90 on Oct. 9. This analyst has an accuracy rate of 80%.
• Citigroup analyst Tyler Radke maintained a Buy rating and boosted the price target from $90 to $103 on Sept. 30. This analyst has an accuracy rate of 70%.
• Cantor Fitzgerald analyst Deepak Mathivanan reiterated a Neutral rating with a price target of $70 on Sept. 30. This analyst has an accuracy rate of 79%.

Considering buying SHOP stock? Here’s what analysts think:

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