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

Wedbush upgraded shares of Shopify (TSE:SHO) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on SHO. Redburn Atlantic upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 17th. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Loop Capital upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and seven have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Shopify Price Performance

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