Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $13.00

Lightspeed Commerce (NYSE:LSPD) had its target price trimmed by Wells Fargo & Company from $16.00 to $13.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Benchmark increased their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their target price on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Piper Sandler decreased their price objective on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, TD Securities lifted their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.39.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD opened at $13.14 on Friday. 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 company has a market capitalization of $2.00 billion, a P/E ratio of -16.43 and a beta of 2.42. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $18.96. The stock has a 50 day moving average of $15.42 and a 200-day moving average of $14.99.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data 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 positive return on equity of 0.60% and a negative net margin of 11.75%. As a group, equities research analysts predict that Lightspeed Commerce will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Lightspeed Commerce by 29.1% during the 3rd quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after acquiring an additional 79,696 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Lightspeed Commerce by 10,117.5% in the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after purchasing an additional 869,090 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Lightspeed Commerce in the 3rd quarter valued at $499,000. Westfield Capital Management Co. LP increased its stake in shares of Lightspeed Commerce by 30.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after purchasing an additional 766,688 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Lightspeed Commerce by 226.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after buying an additional 256,900 shares in the last quarter. 68.68% of the stock is currently owned by institutional investors and hedge funds.

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.