Shopify Inc . SHOP reported third-quarter 2020 adjusted earnings of $1.13 per share significantly outpacing the Zacks Consensus Estimate of 50 cents. The company had reported adjusted net loss of 29 cents per share in the prior-year quarter.
Total revenues improved 96% from the year-ago quarter’s figure to $767.4 million, which beat the Zacks Consensus Estimate by 16.97%.
COVID-19 pandemic has altered consumer spending behavior considerably and triggered online store creation.
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SHOP Stock: $1,323 Price Target By Goldman Sachs
E-commerce service Shopify Inc (NYSE: SHOP) recently received several price target increases shortly after the company announced its Q3 2020 results. One of the most bullish investor notes was by Goldman Sachs. Goldman Sachs analyst Christopher Merwin increased Shopify’s price target to $1,323 from $1,318.
And Merwin noted that Shopify had an “impressive quarter” with GMV growth above 100% for the second quarter in a row. Merwin noted that Shopify is expecting to continue to move higher in the coming quarters as it sees increasing adoption of new merchant solutions. Plus Merwin is also keeping a “Buy” rating on Shopify’s stock.
Shopify (SHOP) Earnings Should End Standoff
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Shopify came public at $28 in May 2015 and topped out in the low $40s in June. The subsequent downtick sliced through the IPO opening print before posting an all-time low at $18.48 in January 2016. The stock lifted into the prior high in August 2016 and broke out, but upside momentum didn't develop until year end. That buying impulse generated steady upside, stalling in the $170s in the second quarter of 2018.
This pattern sets off a red flag due to its bearish reputation, but the signal isn't strong enough to take immediate action. Accumulation has taken a minor hit since posting a new high at the end of July, but this activity looks like garden-variety profit-taking rather than a rush for the exits. In turn, the Oct. 29 confessional takes on greater importance, with positioned and non-positioned market players watching closely for directional clues.
Shopify Unveils the State of Local Retail in the Midst of the Pandemic
There is no question that the economy has taken a hit since the pandemic began to spread throughout the world. Like other cities around the globe, The Mile High City has faced its own challenges — more specifically, the current state of retail. Shopify released a report this week in relation to how COVID-19 has had an impact and what this means for local retailers.
Now, more than ever, it is crucial to support independent businesses and shop locally. Shopify’s recent report digs into how Black Friday and holiday shopping have changed the course for retailers this year. Moreover, what retailers are doing in order to maintain foot traffic and sales overall.
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What's in Store for Shopify (SHOP) This Earnings Season?
The company has not provided third-quarter guidance citing COVID-19-induced uncertainties prevalent in the market.
The Zacks Consensus Estimate for revenues is currently pegged at $656.1 million, which suggests growth of 68% from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for the bottom line has been steady over the past seven days at 49 cents. The company had reported adjusted net loss of 29 cents per share in the third quarter of 2019.
Morning Bell With Jim Cramer: Don't Buy Shopify Now - TheStreet
Dow futures rebound from the biggest decline in four months as earnings distract from surging coronavirus infections. Lockdowns in France and Germany highlight the scale of the second wave in Europe.
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In the last episode of Mad Money , Jim Cramer said that when the market throws a sale like it did Wednesday, investors need to be ready to pounce. Big market selloffs are not a time to panic, he added.
TheStreet's Katherine Ross and Cramer discussed buying Shopify, Bed, Bath & Beyond's turnaround plan, and Raytheon earnings.
Shopify Announces Advertising Partnership With TikTok | California Apparel News
Shopify , a global digital-commerce platform that includes a focus on small businesses, recently announced it was going to take a deeper dive into social media.
Shopify is partnering with TikTok , known for its short-form video. The e-commerce platform said it is a "first of its kind commerce partnership" with the social-media site, according to a Shopify statement. The commerce platform unveiled a TikTok channel for Shopify that will allow businesses working on Shopify to advertise on the site's platform, which has been skyrocketing in popularity in the past few years.
Start a lucrative Shopify business with this $30 course | Engadget
You might be happily employed with a dream of starting a lucrative side hustle — or want to eventually leave your current role to start the shop of your dreams. While online stores have taken out some of the burden of starting a brick and mortar venture, there are still a lot of factors to consider and risks to keep in mind.
The Complete Shopify Bootcamp Bundle is designed to help you navigate those unchartered waters with one of the most popular e-commere platforms out there: Shopify. And while Shopify will certainly simplify the process in a multitude of ways, there is still a learning curve to making your venture successful. This bundle includes six different courses that cover topics ranging from marketing your store well to operations and logistics.
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