Shopify Inc. (NASDAQ:SHOP) stock is in the spotlight Monday ahead of second quarter earnings Wednesday. Here’s what you need to know.
What To Know: Analysts expect Shopify to report earnings of 29 cents per share and revenue of $2.55 billion. The company has guided for year-over-year revenue growth in the mid-20% range.
The company also anticipates a free cash flow margin in the mid-teens, in line with the first quarter of 2025.
For the first quarter, the company reported earnings per share of 25 cents, missing the consensus estimate of 26 cents. In addition, Shopify reported revenue of $2.36 billion, beating the consensus estimate of $2.33 billion.
Shopify has consistently topped revenue and earnings estimates in recent quarters.
Analyst Changes: Ahead of the earnings report, multiple analysts have issued price target adjustments.
- Scotiabank analyst Kevin Krishnaratne maintained a Sector Perform rating on Shopify and raised the price target from $90 to $115.
- Oppenheimer analyst Ken Wong maintained an Outperform rating on Shopify and raised the price target from $125 to $145.
- Keybanc analyst Justin Patterson maintained an Overweight rating on Shopify and raised the price target from $115 to $145.
- Loop Capital analyst Anthony Chukumba downgraded Shopify from a Buy rating to a Hold rating and maintained the price target from $120 to $120.
- CIBC analyst Todd Coupland maintained an Outperform rating on Shopify and raised the price target from $125 to $145.
The consensus price target for Shopify is $116.21, with the lowest price target at $79.00 and the highest price target at $175.00.
See Also: A Look Into Broadcom Inc’s Price Over Earnings
SHOP Price Action: At the time of writing, Shopify stock is trading 5.3% higher at $124.89, according to data from Benzinga Pro.
Image via Shutterstock
