Shopify Inc. (TSE:SHO) Receives Average Rating of “Buy” from Brokerages

Shopify Inc. (TSE:SHO) has earned an average recommendation of “Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a strong buy recommendation to the company.

A number of equities research analysts recently commented on the company. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Wedbush upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Redburn Atlantic upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, Loop Capital upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th.

Shopify Stock Performance

Shopify (TSE:SHO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.13. The business 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.