Shopify (TSE:SHO) Rating Increased to Strong-Buy at Wedbush

Wedbush upgraded shares of Shopify (TSE:SHO) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

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

Shopify Stock Performance

Shopify (TSE:SHO) last released its quarterly earnings results on Tuesday, November 12th. The company reported C$0.37 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 the consensus estimate 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.