Evercore ISI Sees More Upside than Downside Risk When Shopify (SHOP) Report on 5/5

Evercore ISI analyst Mark Mahaney reiterated an Outperform rating and $1,000.00 price target on Shopify (NYSE: SHOP) noting that intra-quarter data points affirm the Street’s Q1 15% Q/Q projected GMV decline and 10% Q/Q Revenue decline. The company is expected to report Q1 results on May 5th with Street consensus Revenue and Adjusted Operating Income expected to be $1.25B and $83MM.

The analyst stated "we view the Street’s Q1 Op Income estimate that implies sequentially contracting margins as reasonable to modestly conservative. The Street is also calling for Take Rates to be up modestly Q/Q, which we also view as reasonable. Finally, we view the Street’s 15% Q/Q Revenue growth estimate for Q2 as ballpark reasonable, though with more downside than upside risk."

For an analyst ratings summary and ratings history on Shopify click here. For more ratings news on Shopify click here.

Shares of Shopify closed at $426.82 yesterday.

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