Piper Sandler Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its target price dropped by research analysts at Piper Sandler from $13.00 to $11.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 10.72% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday. Scotiabank dropped their price target on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Barclays reduced their price objective on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company lowered their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Bank of America initiated coverage on shares of Lightspeed Commerce in a research report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target on the stock. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Lightspeed Commerce Price Performance

Shares of NYSE LSPD opened at $9.94 on Thursday. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a fifty-two week low of $9.74 and a fifty-two week high of $18.96. The business has a 50 day moving average price of $12.74 and a two-hundred day moving average price of $14.77. The firm has a market cap of $1.52 billion, a PE ratio of -12.42, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last released 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 positive return on equity of 0.61% and a negative net margin of 11.75%. Sell-side analysts expect that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LSPD. State Street Corp increased its holdings in shares of 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 purchasing an additional 79,696 shares during the period. PCJ Investment Counsel Ltd. grew its position in Lightspeed Commerce by 33.8% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock valued at $1,874,000 after buying an additional 31,060 shares in the last quarter. Verition Fund Management LLC acquired a new position in Lightspeed Commerce during the 3rd quarter valued at about $499,000. NINE MASTS CAPITAL Ltd bought a new stake in shares of Lightspeed Commerce during the 4th quarter worth about $579,000. Finally, PDT Partners LLC acquired a new stake in shares of Lightspeed Commerce in the 3rd quarter worth approximately $659,000. Institutional investors and hedge funds own 68.68% of the company’s stock.

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.