Lightspeed Commerce (NYSE:LSPD) Shares Gap Down on Disappointing Earnings

Lightspeed Commerce Inc. (NYSE:LSPD)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $14.50, but opened at $13.10. Lightspeed Commerce shares last traded at $12.62, with a volume of 309,641 shares trading hands.

The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LSPD shares. Wells Fargo & Company lowered their price objective on Lightspeed Commerce from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Benchmark lifted their price objective on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 8th. TD Securities increased their target price on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a report on Friday, November 8th. Piper Sandler boosted their price target on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Barclays lowered shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $20.00 to $18.00 in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.50.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently made changes to their positions in LSPD. Blue Trust Inc. boosted its holdings in Lightspeed Commerce by 214.4% in the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after buying an additional 1,025 shares during the period. Aigen Investment Management LP bought a new position in shares of Lightspeed Commerce in the third quarter worth $225,000. Toronto Dominion Bank grew its position in shares of Lightspeed Commerce by 153.4% in the third quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock valued at $287,000 after purchasing an additional 10,538 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Lightspeed Commerce during the 3rd quarter valued at $412,000. Finally, Algert Global LLC bought a new stake in shares of Lightspeed Commerce during the 3rd quarter valued at $448,000. 68.68% of the stock is currently owned by institutional investors.

Lightspeed Commerce Price Performance

The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.91 billion, a PE ratio of -14.10 and a beta of 2.43. The business has a fifty day moving average of $15.65 and a 200-day moving average of $15.00.

About Lightspeed Commerce

Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.