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Shopify

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Analyst ratings are quantitative and qualitative analysis of a stock by Wall Street stock rating analysts. Stock ratings consist of expected future growth, current stock valuation and macroeconomic trends.

Kevin Krishnaratne's

Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) will release earnings results for its third quarter, before the <a href="https://www.benzinga.com/quote/SHOP/earnings">opening bell on Tuesday, Nov. 12</a>.



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 <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.



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 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> 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 <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">analysts have rated the company</a> in the recent period.



<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/63da3f035750940001c1ecbb/kevin-krishnaratne">Scotiabank analyst Kevin Krishnaratne</a> 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%.</li>



<li>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%.</li>



<li>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%.</li>



<li>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%.</li>



<li>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%.</li>
</ul>



Considering buying SHOP stock? Here&#8217;s what analysts think: 



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="557" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12014347/image-111-1024x557.png" alt="" class="wp-image-642076" style="width:597px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12014347/image-111-1024x557.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12014347/image-111-300x163.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12014347/image-111-768x418.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12014347/image-111.png 1223w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Read More: 



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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41877638/jim-cramer-tech-stock-go-to-160-recommends-buying-dominos-pizza">Jim Cramer: This Tech Stock Can &#8216;Go To 160,&#8217; Recommends Buying Domino&#8217;s Pizza</a></li>
</ul>

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SHOP

Shopify Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts

Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) shares are trending and moving higher on Monday. The company is due to release earnings before the market opens on Tuesday. Here&#8217;s what you <a href="https://www.benzinga.com//node/41754258">need to know</a>.



What To Know: Shopify is expected to release <a href="https://www.benzinga.com/calendars/earnings">third-quarter financial results</a> before the opening bell on Tuesday. Analysts anticipate earnings per share of 27 cents and revenue of $2.11 billion, per estimates from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>. Revenue in the comparable quarter came in at $1.71 billion.



In the second quarter, Shopify surpassed analyst estimates for revenue and earnings per share. The company reported earnings per share of 26 cents, beating analyst estimates of 20 cents, and revenue of $2.04 billion, beating analyst estimates of $2.01 billion.



Shopify said last quarter that it expected revenue to grow in the low-to-mid twenties percentage range on a year-over-year basis. Shopify also guided for operating expenses to be between 41% and 42% of revenue. The company expects gross margin to be higher by about 50 basis points compared to the second quarter.



&#8220;We are proud to report another quarter of robust financial performance. We drove strong growth in GMV, revenue, and gross profit, all amidst a mixed consumer spend environment, continued to take share and concurrently expanded our free cash flow margin. We delivered across every metric,&#8221; Shopify CFO Jeff Hoffmeister said last quarter.



&#8220;Our results underscore our commitment to providing exceptional value to our merchants through focused operating execution and efficiency. As a high-growth global technology leader in commerce, we remain committed to leveraging our core strengths and investing in opportunities to achieve sustainable growth and long-term profitability.&#8221;



Multiple analysts have lifted price targets on Shopify stock over the last month leading up to earnings. Near the end of October, Scotiabank analyst Kevin Krishnaratne raised the firm&#8217;s price target <a href="https://www.benzinga.com/analyst-stock-ratings">from $75 to $80</a>. RBC Capital also raised its target from $85 to $100 last month, Loop Capital moved from $80 to $90 and Baird raised its target from $79 to $90.



See Also: <a href="https://www.benzinga.com/24/11/41867250/warren-buffetts-apple-stake-reduction-spurs-97b-cash-surge-analysts-speculate-this-could-be-the-reason-behind-berkshire-hathaways-massive-cash-pile?itm_source=parsely-api">Warren Buffett&#8217;s Apple Stake Reduction Spurs $97B Cash Surge—Analysts Speculate This Could Be The Reason Behind Berkshire Hathaway&#8217;s Massive Cash Pile</a>



SHOP Price Action: At the time of writing, Shopify shares were up 3.98% at $90.59, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.



Image: Photo via Shutterstock

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Shopify Inc. (NYSE:SHOP) shares are trending and moving higher on Monday. The company is due to release earnings before the market opens on Tuesday. Here&#39;s what you need to know.

What&#39;s Going On With Shopify Stock Monday?

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