Shopify Inc. (TSE:SHO) Given Consensus Rating of “Buy” by Brokerages

Shopify Inc. (TSE:SHO) has earned an average rating of “Buy” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and seven have issued a strong buy recommendation on the company.

A number of brokerages recently issued reports on SHO. Wedbush upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, New Street Research raised shares of Shopify to a “hold” rating in a research note on Friday, January 10th.

Shopify Stock Performance

Shopify (TSE:SHO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.24 by C$0.13. The company had revenue of C$2.95 billion for the quarter, compared to analysts’ expectations of C$2.90 billion.

About Shopify

ICC Labs Inc is a medicinal and recreational cannabis producer based in South America. The firm primarily producing, researching and marketing cannabis for medical and recreational uses, and hemp-based products. The company’s operations are organized into two operating segments, Recreational segment and Cannabinoids Extraction segment.