Rothschild & Co Redburn Downgrades Shopify (TSE:SHO) to Hold

Shopify (TSE:SHO) was downgraded by analysts at Rothschild & Co Redburn from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms also recently commented on SHO. BMO Capital Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Citigroup downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Jefferies Financial Group raised shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Eleven analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently 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.