Shopify Inc. (TSE:SHO) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Shopify Inc. (TSE:SHO) have earned an average recommendation of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and seven have given a strong buy rating to the company.

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

Shopify Stock Performance

Shopify (TSE:SHO) last posted its earnings results 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 during the quarter, compared to analyst estimates of C$2.90 billion.

Shopify Company Profile

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.