There were a lot of surprises this week with
TSX stocks. For once, it was mainly good news! A wash of earnings reports came in, and there were some companies that not only performed well in the last quarter, but smashed earnings estimates. Yet with so many options, here are three that I would pay attention to.
Shopify stock
Shopify Inc. (TSX:SHOP)(NYSE:SHOP) saw shares jump 12% in just a day after reporting strong earnings that beat out analyst estimates. The company traded around $1,400 per share, but has since been trading well into the $1,500s as of writing.
Shopify stock produced US$1.26 billion in net profit for their first quarter, crushing any analyst consensus. This came in part from the pandemic, of course, but a lot of this will continue to be recurring revenue. Revenue itself jumped 110% year over year as well, and now has about US$8 billion in cash on its balance sheet.
Friday s analyst upgrades and downgrades - The Globe and Mail
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Friday s analyst upgrades and downgrades - The Globe and Mail
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.