Lightspeed Commerce (NYSE:LSPD) Shares Gap Up to $12.85

Lightspeed Commerce Inc. (NYSE:LSPD) gapped up prior to trading on Tuesday . The stock had previously closed at $12.85, but opened at $13.34. Lightspeed Commerce shares last traded at $13.23, with a volume of 120,023 shares.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Lightspeed Commerce from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on shares of Lightspeed Commerce from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Cibc World Mkts upgraded Lightspeed Commerce from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. Wells Fargo & Company decreased their target price on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. Finally, TD Securities dropped their price target on Lightspeed Commerce from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lightspeed Commerce has a consensus rating of “Hold” and a consensus target price of $18.65.

Lightspeed Commerce Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.19 and a quick ratio of 6.06. The company has a market capitalization of $2.04 billion, a PE ratio of -12.46, a P/E/G ratio of 62.94 and a beta of 2.32. The business’s 50 day simple moving average is $13.02 and its 200 day simple moving average is $13.59.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Lightspeed Commerce had a negative net margin of 15.55% and a negative return on equity of 0.99%. The firm had revenue of $266.10 million for the quarter, compared to analyst estimates of $258.58 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, analysts anticipate that Lightspeed Commerce Inc. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Large investors have recently modified their holdings of the business. TD Asset Management Inc raised its holdings in Lightspeed Commerce by 0.5% in the 4th quarter. TD Asset Management Inc now owns 361,808 shares of the company’s stock valued at $7,633,000 after buying an additional 1,938 shares during the period. Addenda Capital Inc. increased its position in shares of Lightspeed Commerce by 5.3% during the first quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock valued at $560,000 after acquiring an additional 1,990 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Lightspeed Commerce by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock valued at $1,567,000 after acquiring an additional 2,459 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Lightspeed Commerce in the 1st quarter worth approximately $35,000. Finally, Toronto Dominion Bank boosted its position in shares of Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after purchasing an additional 3,482 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

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.