Shopify (SHOP) stock dips 16% on disappointing Q2 revenue outlook

Shopify (SHOP) PT Lowered to $85 at RBC Capital

RBC Capital analyst Paul Treiber lowered the price target on Shopify (NYSE: SHOP) to $85.00 (from $100.00) while maintaining a Outperform rating.

The analyst comments "Shopify's shares dropped 19% today as Q2 guidance calls for lower than expected margins due to new investments and less than... More

Shopify (SHOP) PT Lowered to $78 at BofA Securities

BofA Securities analyst Brad Sills lowered the price target on Shopify (NYSE: SHOP) to $78.00 (from $92.00) while maintaining a Neutral rating.

The analyst comments "Macro pressures to Shopifys GMV do not appear to be improving. With lower-margin payments business continues to pressure gross margin,... More

Shopify (SHOP) PT Lowered to $80 at Deutsche Bank

Deutsche Bank analyst Bhavin Shah lowered the price target on Shopify (NYSE: SHOP) to $80.00 (from $95.00) while maintaining a Buy rating.

The analyst comments "Shopifys 1Q results highlight how strong merchant migrations, particularly within Shopify Plus, is enabling the company to outpace overall ecommerce... More

Piper Sandler Upgrades Shopify (SHOP) to Neutral

Piper Sandler analyst Michael Olson upgraded Shopify (NYSE: SHOP) from Underweight to Neutral with a price target of $63.00.

The analyst comments "Even with our negative bias on FY24 profits, we were surprised to see Q1 non-GAAP OpEx of $761M (+13%... More

Shopify (SHOP) PT Lowered to $77 at Roth/MKM

Roth/MKM analyst Darren Aftahi lowered the price target on Shopify (NYSE: SHOP) to $77.00 (from $89.00) while maintaining a Buy rating.

The analyst comments "Trends across SHOPs non-core businesses remained strong in 1Q, including payments, offline GMV, and international. Changes in marketing... More

Shopify (SHOP) Tops Q1 EPS by 3c, Offers Guidance

Shopify (NYSE: SHOP) reported Q1 EPS of $0.20, $0.03 better than the analyst estimate of $0.17. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.84 billion.

2024 Outlook

For the second quarter of 2024, we expect:

* Revenue to grow at a high-teens... More