JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lightspeed Commerce (NYSE:LSPD) Stock

Lightspeed Commerce (NYSE:LSPD) had its price target boosted by analysts at JPMorgan Chase & Co. from $20.00 to $26.00 in a note issued to investors on Friday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 52.31% from the stock’s previous close.

A number of other brokerages have also commented on LSPD. Piper Sandler decreased their price objective on shares of Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada downgraded shares of Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their target price on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Wells Fargo & Company reduced their target price on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, Benchmark lifted their price objective on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lightspeed Commerce has an average rating of “Hold” and an average target price of $19.75.

Lightspeed Commerce Stock Performance

Lightspeed Commerce stock traded up $0.12 on Friday, reaching $17.07. 1,285,289 shares of the stock were exchanged, compared to its average volume of 622,774. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a twelve month low of $11.01 and a twelve month high of $21.71. The firm has a fifty day moving average price of $14.82 and a two-hundred day moving average price of $14.09. The stock has a market cap of $2.59 billion, a PE ratio of -17.42, a PEG ratio of 9.93 and a beta of 2.35.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.99% and a negative net margin of 15.55%. Sell-side analysts anticipate that Lightspeed Commerce will post 0.05 EPS for the current year.

Institutional Trading of Lightspeed Commerce

A number of institutional investors and hedge funds have recently made changes to their positions in LSPD. The Manufacturers Life Insurance Company boosted its position in Lightspeed Commerce by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock worth $1,567,000 after buying an additional 2,459 shares during the period. TD Asset Management Inc lifted its position in shares of Lightspeed Commerce by 0.7% during the second quarter. TD Asset Management Inc now owns 384,137 shares of the company’s stock valued at $5,250,000 after purchasing an additional 2,828 shares in the last quarter. Toronto Dominion Bank boosted its position in Lightspeed Commerce by 102.8% in the second 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 last quarter. Addenda Capital Inc. grew its position in shares of Lightspeed Commerce by 10.5% during the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock valued at $603,000 after acquiring an additional 4,196 shares during the period. Finally, CIBC Asset Management Inc increased its position in Lightspeed Commerce by 6.6% in the second quarter. CIBC Asset Management Inc now owns 175,008 shares of the company’s stock worth $2,391,000 after buying an additional 10,809 shares during the last quarter. Institutional investors 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.