Shopify (TSE:SHO) Lowered to “Moderate Buy” Rating by Phillip Securities

Phillip Securities downgraded shares of Shopify (TSE:SHO) from a strong-buy rating to a moderate buy rating in a report released on Monday morning,Zacks.com reports.

Other research analysts have also issued reports about the stock. Jefferies Financial Group upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Rothschild & Co Redburn lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Citigroup cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. DZ Bank cut Shopify from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, BMO Capital Markets raised Shopify from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Ten equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Shopify Stock Performance

About Shopify

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.