Wedbush Upgrades Shopify (TSE:SHO) to Strong-Buy

Shopify (TSE:SHO) was upgraded by investment analysts at Wedbush from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

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