Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $16.00

Lightspeed Commerce (NYSE:LSPD) had its price target decreased by Wells Fargo & Company from $17.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other analysts have also issued reports on the company. BMO Capital Markets boosted their target price on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. increased their target price on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. TD Securities lifted their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BTIG Research reissued a “buy” rating and set a $21.00 price target on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Finally, Barclays cut shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $20.00 to $18.00 in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Lightspeed Commerce Stock Performance

NYSE LSPD opened at $14.61 on Thursday. The stock has a fifty day simple moving average of $16.53 and a 200-day simple moving average of $14.93. 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 stock has a market cap of $2.22 billion, a PE ratio of -16.42 and a beta of 2.44. Lightspeed Commerce has a twelve month low of $11.01 and a twelve month high of $20.09.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results 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 during the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. Equities analysts anticipate that Lightspeed Commerce will post -0.02 earnings per share for the current year.

Institutional Trading of Lightspeed Commerce

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank raised its position in shares of Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after acquiring an additional 3,482 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Lightspeed Commerce in the 3rd quarter valued at $225,000. Polar Asset Management Partners Inc. purchased a new position in shares of Lightspeed Commerce in the 3rd quarter valued at $412,000. Algert Global LLC acquired a new stake in Lightspeed Commerce during the 3rd quarter worth $448,000. Finally, Barclays PLC lifted its position in Lightspeed Commerce by 8,355.1% in the third quarter. Barclays PLC now owns 29,170 shares of the company’s stock valued at $481,000 after acquiring an additional 28,825 shares during the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

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.