Lightspeed Commerce (NYSE:LSPD) Given New $13.00 Price Target at Piper Sandler

Lightspeed Commerce (NYSE:LSPD) had its target price reduced by Piper Sandler from $17.00 to $13.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

LSPD has been the subject of several other research reports. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Barclays lowered Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $20.00 to $18.00 in a report on Friday, January 10th. TD Securities upped their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a report on Friday, November 8th. Benchmark raised 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, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Lightspeed Commerce from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.21.

Lightspeed Commerce Trading Down 13.5 %

Shares of LSPD stock opened at $12.55 on Thursday. Lightspeed Commerce has a fifty-two week low of $11.01 and a fifty-two week high of $20.09. The firm has a market capitalization of $1.91 billion, a P/E ratio of -14.10 and a beta of 2.43. The stock’s fifty day moving average is $15.53 and its two-hundred day moving average is $14.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08.

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 analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. Research analysts expect that Lightspeed Commerce will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. grew its position in Lightspeed Commerce by 214.4% in the 4th 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. Aigen Investment Management LP purchased a new position in shares of Lightspeed Commerce in the third quarter valued at approximately $225,000. Toronto Dominion Bank grew its holdings in shares of Lightspeed Commerce by 153.4% in the third quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock valued at $287,000 after purchasing an additional 10,538 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Lightspeed Commerce by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in Lightspeed Commerce during the 3rd quarter worth approximately $412,000. 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.