Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $17.00 by Analysts at Scotiabank

Lightspeed Commerce (NYSE:LSPD) had its price target cut by equities research analysts at Scotiabank from $19.00 to $17.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 69.61% from the company’s current price.

A number of other research firms also recently commented on LSPD. UBS Group reduced their target price on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Barclays reduced their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Piper Sandler lowered their target price on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. Bank of America initiated coverage on shares of Lightspeed Commerce in a research report on Wednesday, February 19th. They set a “buy” rating and a $20.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Lightspeed Commerce Trading Up 0.4 %

Shares of LSPD traded up $0.04 during mid-day trading on Tuesday, reaching $10.02. The stock had a trading volume of 116,128 shares, compared to its average volume of 917,996. Lightspeed Commerce has a 52-week low of $9.90 and a 52-week high of $18.96. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -12.50, a P/E/G ratio of 3.03 and a beta of 2.44. The business’s fifty day moving average is $12.93 and its 200 day moving average is $14.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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%. On average, sell-side analysts predict that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Lightspeed Commerce by 214.4% in the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after acquiring an additional 1,025 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Lightspeed Commerce by 27.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock worth $158,000 after purchasing an additional 2,168 shares during the period. Bayesian Capital Management LP acquired a new stake in Lightspeed Commerce in the 4th quarter valued at about $165,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Lightspeed Commerce in the 4th quarter valued at about $256,000. Finally, Twinbeech Capital LP acquired a new position in shares of Lightspeed Commerce during the fourth quarter worth about $261,000. Hedge funds and other institutional investors 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.