Shopify (TSE:SHO) Stock Rating Upgraded by Benchmark

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

A number of other equities analysts also recently weighed in on the stock. New Street Research raised shares of Shopify to a “hold” rating in a research note on Friday, January 10th. Wedbush upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Loop Capital raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and eight have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.24 by C$0.13. The business had revenue of C$2.95 billion during the quarter, compared to the consensus estimate 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.