Wedbush Upgrades Shopify (TSE:SHO) to Strong-Buy

Shopify (TSE:SHO) was upgraded by analysts at Wedbush from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on SHO. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Loop Capital raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Finally, Redburn Atlantic raised Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating and seven have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Shopify Price Performance

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