Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Analysts Predict 1,137% Earnings Per Share Growth For Shopify’s Full Year 2020

While the pandemic has devastated countless businesses, it has provided a major boon for eCommerce platform Shopify.

Shopify’s stock rallied by 169.9% in 2020 compared to the industry’s 26.6% growth. As of mid-December 2020, according to the research data analyzed and published by Finnish site Sijoitusrahastot, it had a 90 RS rating, which means that it had outperformed 90% of stocks during the year.

Based on the Zacks Consensus Estimate, its Q4 earnings per share (EPS) are set to jump by 188.37% to $1.24 while its sales will grow by 78% to $899.2 million. For the full year 2020, analysts project a massive 1,137% jump for the Shopify EPS.

Shopify Merchants Sell Over $5.1 Billion on Black Friday, Cyber Monday

Since Shopify went public in 2015, its stock has risen over 40-fold to more than $1,200 at the end of December 2020. Between 2016 and 2019, it skyrocketed by over 1,400%.

The eCommerce platform’s earnings for Q1 to Q3 2020 grew at an average of 552%. That was well above the 101% three-year average. In Q3 2020, its revenue nearly doubled from $390.6 million to $767.4 million.

Earnings in Q3 2020 rose from a net loss of 29 cents to $1.13 per share. Gross Merchandise Volume (GMV) soared by 109% reaching $30.9 billion, compared to 46% in Q1 2020 and 119% in Q2 2020. For the first nine months of 2020, there was a revenue increase of 82%.

For the first time, Shopify’s GMV surpassed that of eBay in Q2 2020, doing it again in Q3 2020. It claims to have a 6% share of the US market, higher than eBay’s but lower than Amazon’s 37%.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

During the Black Friday Cyber Monday weekend, merchants on the Shopify platform sold goods worth $5.1 billion. Compared to 2019, this marked a 76% uptick and set a new record. Comparatively, independent businesses on Amazon sold goods worth $4.8 billion. The number of buyers on Shopify increased by 50% year-over-year (YoY) to 44 million during that weekend.

The full story, statistics and information can be found here: https://sijoitusrahastot.org/analysts-predict-1137-

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
World Headlines

 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.