What's Going On With Shopify Shares Tuesday?
Portfolio Pulse from Dylan Berman
Shopify, Inc. (NYSE:SHOP) shares are moving higher ahead of its anticipated 2024 fiscal-year second quarter earnings release on Wednesday. Analysts estimate an EPS of 20 cents and revenue of $2.01 billion. The stock had previously traded lower in sympathy with Amazon's mixed earnings and soft guidance, and experienced a decline amid broader economic concerns. Currently, Shopify is trading 3.82% higher at $54.26.
August 06, 2024 | 4:44 pm
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Shopify shares are up 3.82% ahead of its Q2 earnings release, with analysts expecting an EPS of 20 cents and revenue of $2.01 billion. The stock had previously declined due to Amazon's mixed earnings and broader economic concerns.
The anticipation of Shopify's earnings release has driven the stock price higher. Positive analyst expectations for EPS and revenue contribute to the bullish sentiment. However, previous declines due to Amazon's performance and economic concerns may temper the overall impact.
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