Shopify (TSE:SHO) Upgraded to Strong-Buy at Benchmark

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

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

Shopify Price Performance

Shopify (TSE:SHO) last released its quarterly earnings data 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 firm had revenue of C$2.95 billion during the quarter, compared to analysts’ expectations 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.