Rubicon Technologies downgraded to Hold from Buy at Canaccord

Canaccord downgraded Rubicon Technologies to Hold from Buy with a price target of $2.50, down from $3. Rubicon reported mixed Q3 results, with revenue and profitability coming in below expectations, the analyst tells investors in a research note. Despite the optimization of the client portfolio and aggressive cost reduction initiatives, reduced forward visibility “warrants a more cautious view on the stock at this point,” says the firm.