Shopify (TSE:SHO) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Shopify (TSE:SHO) to a strong-buy rating in a report released on Tuesday, Zacks.com reports.

Other research analysts also recently issued reports about the company. Atb Cap Markets raised Shopify from a sector perform rating to an outperform rating in a research note on Wednesday, May 8th. Moffett Nathanson cut Shopify from a strong-buy rating to a hold rating in a report on Thursday, June 6th. Piper Sandler upgraded Shopify from a strong sell rating to a hold rating in a report on Thursday, May 9th. Finally, JMP Securities upgraded Shopify from a hold rating to a strong-buy rating in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has an average rating of Moderate Buy.

Shopify Price Performance

Shopify (TSE:SHO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported C$0.16 EPS for the quarter, beating the consensus estimate of C$0.11 by C$0.05. The firm had revenue of C$2.51 billion during the quarter, compared to analyst estimates of C$2.49 billion.