Lightspeed Commerce (NYSE:LSPD) Given New $15.00 Price Target at Wells Fargo & Company

Lightspeed Commerce (NYSE:LSPD) had its target price decreased by investment analysts at Wells Fargo & Company from $17.00 to $15.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.86% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Lightspeed Commerce from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, May 17th. Jefferies Financial Group raised their target price on shares of Lightspeed Commerce from $14.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, May 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $21.00 price objective on shares of Lightspeed Commerce in a research report on Wednesday, May 29th. BMO Capital Markets lifted their price objective on shares of Lightspeed Commerce from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. Finally, Bank of America lifted their price objective on shares of Lightspeed Commerce from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.67.

Lightspeed Commerce Stock Up 0.7 %

Shares of NYSE LSPD traded up $0.09 during midday trading on Wednesday, hitting $13.53. The company’s stock had a trading volume of 550,657 shares, compared to its average volume of 1,191,332. The business’s fifty day simple moving average is $14.10 and its two-hundred day simple moving average is $14.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.34 and a quick ratio of 6.23. Lightspeed Commerce has a 1 year low of $12.23 and a 1 year high of $21.71. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -12.64 and a beta of 2.33.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, May 16th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.16. The firm had revenue of $230.22 million for the quarter, compared to analysts’ expectations of $224.08 million. Lightspeed Commerce had a negative net margin of 18.03% and a negative return on equity of 2.02%. On average, equities analysts predict that Lightspeed Commerce will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in Lightspeed Commerce in the 1st quarter valued at about $35,000. Conestoga Capital Advisors LLC acquired a new position in Lightspeed Commerce in the 1st quarter valued at about $141,000. Duality Advisers LP acquired a new position in Lightspeed Commerce in the 4th quarter valued at about $276,000. Addenda Capital Inc. raised its stake in Lightspeed Commerce by 5.3% in the 1st quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock valued at $560,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Boulder Hill Capital Management LP acquired a new position in Lightspeed Commerce in the 1st quarter valued at about $811,000. Institutional investors and hedge funds own 68.68% of the company’s stock.

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.