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Why Shopify's Stock Is Trading Lower Today

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Why Shopify's Stock Is Trading Lower Today

Shopify (NYSE: 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.

Related Links:

Shopify Reports Big Q4 Earnings Beat

Shopify Reports Mixed Q3 Earnings

 

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