Phillip Securities Downgrades Shopify (TSE:SHO) to Moderate Buy

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

Several other research firms have also weighed in on SHO. New Street Research upgraded shares of Shopify to a “hold” rating in a research note on Friday, January 10th. Benchmark upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 6th. Wedbush upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and eight have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Shopify Price 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.