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Is Shopify (SHOP) a Buy Ahead of Q3 Earnings Announcement?
E-commerce platform company Shopify (SHOP - Free Report) is set to report third-quarter earnings results on Tuesday before the opening bell. The cloud-based, multi-channel provider has exceeded the earnings mark in each of the past eight quarters. With the stock breaking above key technical levels ahead of the announcement, is SHOP a buy?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Shopify is expected to deliver a third-quarter profit of 27 cents per share, which would reflect growth of 12.5% versus the same quarter last year. Earnings estimates for the quarter have remained steady in the past 60 days. Revenues are projected to have grown 23% to $2.11 billion.
The company has posted a trailing four-quarter average earnings surprise of 31.2%. Shopify is currently a Zacks Rank #1 (Strong Buy) stock. Our Zacks proprietary methodology is predicting another earnings beat for the upcoming announcement.