Piper Sandler Upgrades Shopify (SHOP) to Neutral

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

Shopify (SHOP) PT Lowered to $84 at DA Davidson

(Updated - May 9, 2024 4:35 AM EDT)

DA Davidson analyst Gil Luria lowered the price target on Shopify (NYSE: SHOP) to $84.00 (from $90.00) while maintaining a Buy rating.

The analyst commented: "Strong fundamentals fell short of high investor expectations resulting in a... More

Shopify (SHOP) PT Lowered to $63 at Barclays

Barclays analyst Trevor Young lowered the price target on Shopify (NYSE: SHOP) to $63.00 (from $68.00) while maintaining a Equalweight rating.... More

JMP Securities Upgrades Shopify (SHOP) to Market Outperform

(Updated - May 9, 2024 4:57 AM EDT)

JMP Securities analyst Andrew Boone upgraded Shopify (NYSE: SHOP) from Market Perform to Market Outperform with a price target of $80.00.

The analyst comments "Our upgrade is driven by the potential for new merchant cohorts to contribute in... More

Shopify (SHOP) PT Lowered to $80 at Canaccord Genuity

Canaccord Genuity analyst David Hynes lowered the price target on Shopify (NYSE: SHOP) to $80.00 (from $90.00) while maintaining a Buy rating.... More

Shopify (SHOP) PT Lowered to $65 at Stifel

Stifel analyst J. Parker Lane lowered the price target on Shopify (NYSE: SHOP) to $65.00 (from $80.00) while maintaining a Hold rating.

The analyst commented, "Shares were under pressure on Wednesday after the company delivered a relatively clean 1Q but an outlook for 2Q that... 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

Midday movers: Uber, Rivian, Twilio fall; Reddit and Arista rise

(Updated - May 8, 2024 11:31 AM EDT)

Investing.com -- Main U.S. indexes were flat Wednesday, as investors digested a series of quarterly corporate earnings ahead of comments from more Federal Reserve officials.

Here are some of the biggest U.S. stock movers today:

Uber (NYSE: UBER) stock slumped 8.6% after the ride-hailing firm forecast second-quarter gross bookings below expectations after missing the target for the first three months.

Apple (NASDAQ: AAPL) stock was... More

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

Shopify (NYSE: SHOP) shares plunged 16.5% in premarket trading Wednesday after the company issued a downbeat revenue forecast for the fiscal Q2 2024.

For the fiscal Q1, the e-commerce firm posted earnings per share (EPS) of $0.20, surpassing analysts' estimates of $0.17. The company's revenue reached $1.9 billion, also... More

Shopify's downbeat revenue growth forecast sends shares to six-month low

By Harshita Mary Varghese

(Reuters) - Canadian e-commerce platform Shopify forecast its slowest quarterly revenue growth in two years against the backdrop of an uncertain economy and tepid consumer spending, sending its shares slumping about 20% on Wednesday.

The Toronto-listed shares hit their lowest in six months and the company was on track to lose C$25 billion ($18.21 billion) in market value as the dour outlook overshadowed a first-quarter beat.

Rebounding e-commerce growth from a post-pandemic slump has collided with cautious consumers cutting down on discretionary spending,... 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

Shopify (SHOP) May weekly option implied volatility into quarter results

Shopify (NYSE: SHOP) May weekly call option implied volatility is at 150, May is at 91; compared to its 52-week range of 36 to 73 into the expected release of quarter results before the bell on May 8.

Shopify (SHOP) May weekly 78 straddle into quarter results

Shopify (NYSE: SHOP) May weekly 78 straddle priced for a move of 12.5% into the expected release of quarter results before the bell on May 8.