Shopify Q1 Preview: Analysts Predict Strong Sales Growth
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Shares of Shopify Inc (NYSE:SHOP) were trading lower on Tuesday ahead of the company’s first-quarter results, scheduled for May 8.
Here are some key analyst expectations amid an exciting earnings season.
Truist Securities On Shopify
Analyst Terry Tillman maintained a Hold rating and price target of $85.
An analysis of Truist Card Sales Data for the first quarter suggests Shopify could report GMV (gross merchandize value) of $60.7 billion, 2% higher than the current consensus of $59.5 billion, Tillman said in a note. This implies GMV per card would reflect a 19% sequential decline and 23% year-on-year growth, he added.
“This would represent quite solid y/y growth improvement versus 15% …
Full story available on Benzinga.com
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