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00:02Shopify raised its share repurchase authorization by $3 billion on Tuesday,
00:07bringing the total buyback program to $5 billion, according to Benzinga.
00:12CFO Jeff Hoffmeister cited confidence in the company's business outlook,
00:16backed by consistent operating cash flow and a strong balance sheet.
00:20As of June 1st, 2026, Shopify had repurchased about $1.45 billion under its existing authorization.
00:28Purchases will continue through prearranged algorithmic trading programs,
00:31subject to market conditions and regulatory requirements.
00:35Analysts hold a consensus, buy rating with an average price target of $152.61,
00:42Wall Street projects earnings of $0.37 per share,
00:45and revenue of $3.44 billion for the next report, estimated on August 5th.
00:51Shares were down 0.95% at $115.90 in pre-market trading on Wednesday.
00:57According to Benzinga ProData.
00:58For all things money, visit Benzinga.com.
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