Here is a snapshot of Wall Street’s expectations and some recent history:
• Wall Street analysts are predicting that the company will report third-quarter adjusted earnings of $0.11 per share and $384 million of revenue.
• Shopify stock has gained 129% in 2019, while the S&P 500 has risen 21% and the Dow Jones Industrial Average has advanced 16%.
• Last week, Baird analyst Colin Sebastian reaffirmed his Outperform rating for Shopify stock, pointing to positive business trends.
“We expect Shopify Q3 results slightly above consensus expectations based on continued strong levels of brand and merchant adoption and overall healthy U.S. e-commerce trends,” he wrote. “Fundamental trends still appear healthy.”
• Other Wall Street analysts are mixed on Shopify. About 53% have ratings of Buy or the equivalent on the stock, while 37% have Hold ratings, according to FactSet. Their average price target for the stock is $368.36
• Management has scheduled a conference call for 8:30 a.m. ET Tuesday to discuss the results with analysts and investors.
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