Reference: See hereE-commerce platform Shopify (SHOP) is scheduled to report its results for the fourth quarter of 2024 before the market opens on Tuesday, February 11. SHOP stock has rallied 38% over the past year, mainly due to the company's stellar Q3 earnings report and solid guidance for the holiday quarter. Analysts expect Shopify to report Q4 2024 earnings per share (EPS) of $0.43 , reflecting a 34.3% increase from the prior-year quarter.
Further, Wall Street's Q4 2024 revenue estimate of $2.69 billion indicates about 26% year-over-year growth. Shopify is seeing solid momentum, with Q3 2024 marking the fifth consecutive quarter in which gross merchandise value (GMV) growth was more than 20%. The company is boosting its top line by driving growth across different merchant segments, geographies, channels, and products.
Heading into Shopify's Q4 results, Jefferies analyst Samad Samana reiterated a Hold rating on SHOP stock and raised the price target to $110 from $80. Samana expects Shopify to report a robust GMV beat, fueled by strong BFCM (Black Friday Cyber Monday) results, resilient consumer spending, and traction across newer growth initiatives.
Indeed, it currently says that options traders are expecting a 13.7% move in either direction in reaction to Shopify's Q4 2024 results.
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