Shopify Inc (TSE:SHOP) had its target price upped by equities researchers at Summit Redstone from C$48.00 to C$69.00 in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the stock. Summit Redstone’s price target indicates a potential downside of 11.94% from the stock’s previous close.

Shopify (TSE:SHOP) traded down 1.06% during trading on Thursday, reaching $78.38. The company had a trading volume of 224,597 shares. Shopify has a one year low of $25.85 and a one year high of $81.40. The firm’s market capitalization is $6.97 billion. The firm’s 50-day moving average price is $64.80 and its 200 day moving average price is $56.97.

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