PCJ Investment Counsel Ltd. Makes New Investment in Lightspeed Commerce Inc. (NYSE:LSPD)

PCJ Investment Counsel Ltd. bought a new position in Lightspeed Commerce Inc. (NYSE:LSPD) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 92,000 shares of the company’s stock, valued at approximately $1,517,000. PCJ Investment Counsel Ltd. owned 0.06% of Lightspeed Commerce as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LSPD. Vanguard Group Inc. boosted its stake in Lightspeed Commerce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company’s stock worth $71,699,000 after purchasing an additional 62,394 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Lightspeed Commerce by 297.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company’s stock worth $1,236,000 after purchasing an additional 67,584 shares during the period. Addenda Capital Inc. boosted 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 last quarter. NewGen Asset Management Ltd bought a new stake in shares of Lightspeed Commerce during the 2nd quarter valued at about $9,241,000. Finally, CIBC Asset Management Inc boosted its position in shares of Lightspeed Commerce by 6.6% during the 2nd quarter. CIBC Asset Management Inc now owns 175,008 shares of the company’s stock valued at $2,391,000 after acquiring an additional 10,809 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Price Performance

Shares of Lightspeed Commerce stock opened at $17.67 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. The business’s 50 day simple moving average is $15.56 and its two-hundred day simple moving average is $14.32. The stock has a market capitalization of $2.68 billion, a P/E ratio of -19.85, a price-to-earnings-growth ratio of 6.57 and a beta of 2.35. Lightspeed Commerce Inc. has a one year low of $11.01 and a one year high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last posted its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $273.90 million. Analysts forecast that Lightspeed Commerce Inc. will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Benchmark lifted their price target on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group dropped their price target on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their price target on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets lifted their price target on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

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.