Shopify Inc (SHOP) Releases Earnings Results, Beats Expectations By $0.04 EPS

Shopify Inc (SHOP) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $-0.04 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.08. The company posted revenue of $86.60 million in the period, compared to analysts expectations of $80.62 million. The company’s revenue was up 92.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on Shopify Inc. Citigroup Initiated Shopify Inc on Aug 1, 2016 to “Neutral”, Price Target of the shares are set at $35.Monness Crespi & Hardt Initiated Shopify Inc on Jun 29, 2016 to “Buy”, Price Target of the shares are set at $35.Shopify Inc was Initiated by Maxim Group to “Hold” on May 26, 2016.

Shopify Inc closed down -0.52 points or -1.53% at $33.53 with 12,03,838 shares getting traded on Tusday. Post opening the session at $34.22, the shares hit an intraday low of $32.85 and an intraday high of $34.55 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

Shopify Inc. is a Canada-based company that provides a cloud-based commerce platform for small and medium-sized businesses. The Company’s platform lets users to create their own online store. The Company’s platform provides merchants to design set up and manage their stores across multiple sales channels including Web mobile social media brick-and-mortar locations and pop-up shops. Its platform provides a merchant a single view of their business. Its platform also provides merchants to manage all aspects of their shops: uploading products customizing the design accepting credit cards and viewing their incoming orders and completed transactions. Its platform lets users to sell fashion electronics sporting goods furniture and food among others. The Company’s platform offers over 900 applications.

Shopify Inc

Leave a Reply

Shopify Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Shopify Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.