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

Shopify (TSE:SHO) was upgraded by equities researchers at Benchmark from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research analysts have also commented on SHO. Wedbush upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Loop Capital upgraded Shopify from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. New Street Research raised shares of Shopify to a “hold” rating in a research note on Friday, January 10th. Finally, Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating and eight have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Shopify Price 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 during the quarter, compared to analysts’ expectations 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.