Shopify experienced a significant stock price drop of nearly 20% after releasing a weaker-than-expected guidance for the second quarter, described as 'guidance light'. The company's cautious outlook led to its biggest stock slump since May 2022, with shares closing down at $62.81. Despite beating earnings expectations and reporting a revenue increase of 23% year-over-year to $1.86 billion, slightly above the $1.84 billion estimate, Shopify's forecast for slower sales growth in the high teens for Q2, down from 23% this quarter, disappointed investors. The monthly recurring revenue also saw a 30% increase year-over-year, reaching $151 million. Merchant Solutions revenue was reported at $1.4 billion, surpassing the $1.34 billion estimate.
$SHOP tumbles 19% after forecasting slower Q2 sales growth https://t.co/Vr5Qg3OkaJ https://t.co/4w42pfS4ul
Shares of tech heavyweight Shopify fell almost 19 per cent Wednesday, weighing on Canada's main stock index, while U.S. markets were mixed. READ MORE: https://t.co/3mjq5JL4jv https://t.co/3mjq5JL4jv
Shopify Stock Got Slammed, but It's Still Pricey @davidmoadel https://t.co/Tj03U5tOLS $SHOP
$SHOP closed down 18.5% ot $62.81 today after its cautious Q2 guidance. Investors may have overreacted a little.ππΌ ~580 institutional holders have reported holding total ~125M shares in Q1, down ~5% q/q. Buyers represents ~44% of 580 holders, a bit weaker than we saw in otherβ¦ https://t.co/JCxCINQYw0 https://t.co/q6OW5jpJpq
Are the "big beat and raise" days over for @shopify? The e-commerce giant's guidance came out weaker-than-expected for Wall Street. President @harleyf joins @jimcramer to discuss the outlook. $SHOP https://t.co/aQWEidcyx9
$SHOP's drop today of nearly 20% is the largest on record for the company - Bloomberg
$SHOP DOWN 20% ON GUIDANCE, BIGGEST DROP SINCE MAY 2022: - Expects growth in high teens for 2Q, down from 23% this quarter - Revenue $1.86bn, +23% y/y, est $1.84bn - Monthly recurring rev $151mn, +30% y/y, est $149mn - Merchant Solutions rev $1.4bn, +24% y/y, est $1.34bn -β¦ https://t.co/QYg8uQDUHb
Shopify and Uber are the latest growth stocks to take it on the chin today Shopify is down 16% after a beat/beat Shopify has a forward PE of 70+ β far more than Nvidia UBER is priced like Nvidia None of that makes sense Have you sold stocks that are more expensive thanβ¦ https://t.co/rKd0ojBvVS
Shopify and Uber are the latest growth stocks to take it on the chin today Shopify is down 16% after a beat/beat Shopify has a forward PE of 70+ β far more than Nvidia UBER priced lime Nvidia None of that makes sense Have you sold stocks that are more expensive than Nvidia?β¦ https://t.co/rKd0ojBvVS
$SHOP Shopify beats, guidance light. -17% pre-market https://t.co/lKyxbt6eL7
btwn $UBER and $SHOP, rough morning for earnings
Shopify stock slump offers entry point for traders as earnings loom https://t.co/IRZNIOFJvz