Shopify (TSE:SHO) Cut to “Moderate Buy” at Phillip Securities

Shopify (TSE:SHO) was downgraded by research analysts at Phillip Securities from a “strong-buy” rating to a “moderate buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on SHO. DZ Bank downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Rothschild & Co Redburn downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. BMO Capital Markets upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Jefferies Financial Group raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a report on Sunday, July 12th. Finally, Citigroup lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Ten investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Buy”.

Shopify Price Performance

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. The Recreational segment consists of planting, harvesting, and sale of psychoactive cannabis. The Cannabinoids Extraction segment consists of planting, harvesting, and sale of hemp and the related cannabinoid extraction for medicinal use.