Shopify (TSE:SHO) Raised to “Strong-Buy” at Loop Capital

Shopify (TSE:SHO) was upgraded by equities research analysts at Loop Capital from a “hold” rating to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Several other research analysts have also commented on SHO. Argus upgraded Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald upgraded Shopify to a “hold” rating in a report on Thursday, September 5th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Evercore ISI upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Redburn Atlantic upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and six have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Shopify Stock Performance

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