Shopify Inc. (TSE:SHO) Receives Average Rating of “Moderate Buy” from Brokerages

Shopify Inc. (TSE:SHO) has been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company.

Several equities analysts recently weighed in on SHO shares. Wolfe Research upgraded shares of Shopify to a “strong-buy” rating in a report on Tuesday, July 16th. Piper Sandler upgraded Shopify from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 9th. Moffett Nathanson lowered Shopify from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 6th. Atb Cap Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. Finally, JMP Securities raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 9th.

Shopify Price Performance

Shopify (TSE:SHO) last posted its quarterly earnings results 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 business had revenue of C$2.51 billion during the quarter, compared to analysts’ expectations of C$2.49 billion.