Lightspeed Commerce (NYSE:LSPD) Shares Down 4% – Here’s Why

Lightspeed Commerce Inc. (NYSE:LSPD)’s share price traded down 4% during trading on Monday . The company traded as low as $10.02 and last traded at $10.21. 208,174 shares changed hands during trading, a decline of 77% from the average session volume of 908,893 shares. The stock had previously closed at $10.63.

Wall Street Analyst Weigh In

LSPD has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. UBS Group lowered their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a report on Friday, February 7th. Piper Sandler cut their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Scotiabank reduced their price target on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada dropped their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.89.

Lightspeed Commerce Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -12.59, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. The firm’s 50-day moving average price is $12.84 and its 200 day moving average price is $14.80.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. Sell-side analysts expect that Lightspeed Commerce Inc. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Lightspeed Commerce by 29.1% during the third quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after buying an additional 79,696 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Lightspeed Commerce during the third quarter worth approximately $499,000. PCJ Investment Counsel Ltd. grew its stake in Lightspeed Commerce by 33.8% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock worth $1,874,000 after acquiring an additional 31,060 shares during the period. NINE MASTS CAPITAL Ltd acquired a new position in Lightspeed Commerce in the 4th quarter valued at $579,000. Finally, PDT Partners LLC purchased a new position in shares of Lightspeed Commerce during the 3rd quarter worth $659,000. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

Lightspeed Commerce Company Profile

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.