Scotiabank Lowers Lightspeed Commerce (NYSE:LSPD) Price Target to $19.00

Lightspeed Commerce (NYSE:LSPD) had its price objective lowered by research analysts at Scotiabank from $21.00 to $19.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 46.32% from the stock’s current price.

LSPD has been the subject of a number of other research reports. Benchmark increased 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. UBS Group decreased their price target on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Piper Sandler lowered their price target on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. Nine 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.61.

Lightspeed Commerce Stock Up 3.1 %

Shares of LSPD traded up $0.39 during midday trading on Friday, hitting $12.99. The company had a trading volume of 1,184,388 shares, compared to its average volume of 608,306. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average price is $15.53 and its 200 day moving average price is $14.99. Lightspeed Commerce has a 52 week low of $11.01 and a 52 week high of $18.96. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -14.57 and a beta of 2.43.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, February 6th. The company reported $0.03 EPS 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%. On average, equities research analysts predict that Lightspeed Commerce will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

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

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.