Revenue Update on Shopify Inc(NYSE:SHOP)

Shopify Inc(NYSE:SHOP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $86.65M. Analysts estimated a revenue of $80.63M. Earnings per share were $-0.04. Analysts had estimated an EPS of $-0.08.

In a different note, Citigroup said it Initiates Coverage on Shopify Inc, according to a research note issued on Aug 1, 2016. The shares have been rated ‘Neutral’ by the firm. Monness Crespi Hardt said it Initiates Coverage on Shopify Inc, according to a research note issued on Jun 29, 2016. The shares have been rated ‘Buy’ by the firm. Maxim Group said it Initiates Coverage on Shopify Inc, according to a research note issued on May 26, 2016. The shares have been rated ‘Hold’ by the firm. Macquarie said it Initiates Coverage on Shopify Inc, according to a research note issued on May 18, 2016. The shares have been rated ‘Outperform’ by the firm.

Shopify Inc (SHOP) shares turned negative on Fridays trading session with the shares closing down -0.53 points or -1.33% at a volume of 9,70,367. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $40.55. The peak price level was also seen at $40.55 while the days lowest was $39.01. Finally the shares closed at $39.38. The 52-week high of the shares is $40.93 while the 52-week low is $18.48. According to the latest information available, the market cap of the company is $3,221 M.

Shopify Inc. is a Canada-based company that provides a cloud-based commerce platform for small and medium-sized businesses. The Company’s platform lets users to create their own online store. The Company’s platform provides merchants to design set up and manage their stores across multiple sales channels including Web mobile social media brick-and-mortar locations and pop-up shops. Its platform provides a merchant a single view of their business. Its platform also provides merchants to manage all aspects of their shops: uploading products customizing the design accepting credit cards and viewing their incoming orders and completed transactions. Its platform lets users to sell fashion electronics sporting goods furniture and food among others. The Company’s platform offers over 900 applications.

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