These Analysts Increase Their Forecasts On Shopify Following Q2 Results
Portfolio Pulse from Lisa Levin
Shopify Inc. (NYSE:SHOP) reported better-than-expected Q2 earnings and sales results, with a 31% YoY increase in revenue to $1.69 billion. The company expects Q3 revenue to grow at a low-twenties percentage rate YoY. Following the announcement, Piper Sandler and Barclays raised their price targets on Shopify. Despite the positive results, Shopify shares fell 1.1% in pre-market trading.
August 04, 2023 | 1:04 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Shopify reported strong Q2 results and positive Q3 outlook, leading to raised price targets by Piper Sandler and Barclays. However, shares fell in pre-market trading.
Despite beating Q2 expectations and having a positive Q3 outlook, Shopify's stock fell in pre-market trading. This could be due to investors' concerns about future growth or other factors not mentioned in the article. The raised price targets by Piper Sandler and Barclays indicate a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100