Lightspeed Commerce (NYSE:LSPD) Given New $13.00 Price Target at Wells Fargo & Company

Lightspeed Commerce (NYSE:LSPD) had its target price dropped by stock analysts at Wells Fargo & Company from $16.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 3.17% from the company’s current price.

Several other research firms have also recently commented on LSPD. Piper Sandler reduced their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. TD Securities lifted their target price on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada raised shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Benchmark upped their target price 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, Barclays lowered Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $20.00 to $18.00 in a research note on Friday, January 10th. Nine investment 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.com, Lightspeed Commerce presently has a consensus rating of “Hold” and a consensus price target of $19.00.

Lightspeed Commerce Stock Performance

NYSE LSPD remained flat at $12.60 during trading hours on Friday. 158,209 shares of the company traded hands, compared to its average volume of 564,869. The stock has a market capitalization of $1.91 billion, a P/E ratio of -14.18 and a beta of 2.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. Lightspeed Commerce has a twelve month low of $11.01 and a twelve month high of $18.96. The company’s 50 day moving average price is $15.53 and its 200-day moving average price is $14.99.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. Research analysts anticipate that Lightspeed Commerce will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its position in Lightspeed Commerce by 29.1% during the third quarter. State Street Corp now owns 353,472 shares of the company’s stock valued at $5,829,000 after buying an additional 79,696 shares during the period. Intact Investment Management Inc. raised its position in shares of Lightspeed Commerce by 10,117.5% during the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after purchasing an additional 869,090 shares during the period. Verition Fund Management LLC bought a new position in shares of Lightspeed Commerce in the third quarter worth about $499,000. Westfield Capital Management Co. LP raised its stake in Lightspeed Commerce by 30.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after purchasing an additional 766,688 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Lightspeed Commerce by 226.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after purchasing an additional 256,900 shares during the period. 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.