02:14 PM EDT, 10/18/2024 (MT Newswires) -- Deutsche Bank expects Shopify ( SHOP ) to report third quarter results ahead of expectations with GMV and

revenue reflecting market share gains (Enterprise/International/PoS) and profitability reflecting overall expense prudence. Based on industry conversations with agencies/merchants along with analysis of app usage data, Deutsche Bank expects y/y GMV growth similar to second quarter levels (~22% reported) and ahead of Street's 20.5%.

Revenue should also continue to benefit from strong payments attach, prior pricing changes flowing into revenue, and merchant growth.

Deutsche Bank expects fourth quarter revenue growth guidance of low-to-mid 20%s (vs. Street) and GAAP Operating Expense guidance of mid-30%s of revenue. Combined, this should drive positive estimate revisions to both fourth quarter and FY25.

Shopify ( SHOP ) is rated Buy, with a US$85 target.

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