Read more: Visit websiteA month has gone by since the last earnings report for Shopify (SHOP). Shares have added about 2.3% in that time frame, underperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Shopify due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Shopify reported second-quarter 2024 adjusted earnings of 26 cents per share, comfortably beating the Zacks Consensus Estimate by 30%. The figure jumped 85.7% year over year.
Total revenues jumped 20.7% year over year to $2.05 billion, which beat the Zacks Consensus Estimate by 2.03%. After adjusting for the sale of the logistics business, revenues jumped 25% year over year.
At this time, Shopify has a strong Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Shopify has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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