Shopify Inc. (TSE:SHO) Receives Consensus Rating of “Buy” from Analysts

Shares of Shopify Inc. (TSE:SHO) have earned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and seven have issued a strong buy rating on the company.

Several equities research analysts have recently weighed in on the company. New Street Research raised Shopify to a “hold” rating in a report on Friday, January 10th. Loop Capital raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Wedbush upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th.

Shopify Stock Performance

Shopify (TSE:SHO) last posted its earnings results on Tuesday, November 12th. The company reported C$0.37 EPS for the quarter, topping analysts’ consensus estimates of C$0.24 by C$0.13. The firm had revenue of C$2.95 billion for the quarter, compared to analyst estimates 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.