Shopify SHOP shares are trading lower on Thursday, after the company withdrew its fiscal year 2020 guidance.
Also, Raymond James analyst Brian Peterson lowered his price target from $600 to $400.
Shopify is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary E-Commerce platform for online stores and retail point-of-sale systems.
Shopify's stock was trading down 11.36% at $340 per share at time of publication. The stock has a 52-week range between $593.89 and $190.38.
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