State Street Corp Increases Stock Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

State Street Corp raised its stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 29.1% during the third quarter, Holdings Channel reports. The firm owned 353,472 shares of the company’s stock after buying an additional 79,696 shares during the quarter. State Street Corp’s holdings in Lightspeed Commerce were worth $5,829,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LSPD. Intact Investment Management Inc. increased its position in shares of Lightspeed Commerce by 10,117.5% during the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after buying an additional 869,090 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Lightspeed Commerce by 30.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after buying an additional 766,688 shares during the period. NewGen Asset Management Ltd bought a new stake in Lightspeed Commerce during the 2nd quarter valued at approximately $9,241,000. Marshall Wace LLP boosted its position in Lightspeed Commerce by 306.5% during the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock valued at $11,051,000 after acquiring an additional 608,661 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Lightspeed Commerce by 345,464.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock worth $5,535,000 after acquiring an additional 404,193 shares in the last quarter. 68.68% of the stock is currently owned by institutional investors.

Lightspeed Commerce Stock Performance

LSPD stock opened at $15.63 on Friday. The stock’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $14.80. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. Lightspeed Commerce Inc. has a 12-month low of $11.01 and a 12-month high of $21.71. The stock has a market capitalization of $2.37 billion, a PE ratio of -17.56 and a beta of 2.40.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. The firm had revenue of $277.18 million for the quarter, compared to the consensus estimate of $273.90 million. As a group, research analysts forecast that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LSPD has been the topic of several research reports. TD Securities lifted their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BTIG Research restated a “buy” rating and set a $21.00 target price on shares of Lightspeed Commerce in a report on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Piper Sandler lifted their price target on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Benchmark upped 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. Eight investment 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 MarketBeat, Lightspeed Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $20.07.

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.