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

Shares of Shopify Inc. (TSE:SHO) have been assigned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a strong buy recommendation to the company.

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

Shopify Stock Performance

Shopify (TSE:SHO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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.

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.