Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $11.00 by Analysts at Wells Fargo & Company

Lightspeed Commerce (NYSE:LSPD) had its price objective dropped by equities researchers at Wells Fargo & Company from $13.00 to $11.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 20.72% from the stock’s previous close.

Several other research firms have also recently commented on LSPD. Benchmark lowered their target price on shares of Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank of Canada dropped their target price on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. Scotiabank dropped their price objective on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Bank of America decreased their target price on shares of Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Barclays dropped their price target on shares of Lightspeed Commerce from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lightspeed Commerce has an average rating of “Moderate Buy” and a consensus price target of $16.54.

Lightspeed Commerce Price Performance

LSPD stock traded down $0.26 during midday trading on Friday, hitting $9.11. 62,914 shares of the stock were exchanged, compared to its average volume of 920,652. The stock’s 50-day moving average price is $12.63 and its 200-day moving average price is $14.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -11.41, a PEG ratio of 3.03 and a beta of 2.44. Lightspeed Commerce has a fifty-two week low of $9.11 and a fifty-two week high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. Research analysts predict that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LSPD. Vanguard Group Inc. increased its stake in Lightspeed Commerce by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,333,306 shares of the company’s stock worth $81,319,000 after buying an additional 70,324 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Lightspeed Commerce by 37,065.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company’s stock worth $63,688,000 after acquiring an additional 4,170,557 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Lightspeed Commerce by 0.8% in the fourth quarter. Nuveen Asset Management LLC now owns 3,149,919 shares of the company’s stock valued at $48,009,000 after purchasing an additional 24,891 shares during the last quarter. Bank of Montreal Can grew its stake in Lightspeed Commerce by 1.1% during the 4th quarter. Bank of Montreal Can now owns 2,022,590 shares of the company’s stock valued at $30,803,000 after purchasing an additional 21,357 shares in the last quarter. Finally, Intact Investment Management Inc. increased its holdings in Lightspeed Commerce by 94.5% during the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock worth $26,031,000 after purchasing an additional 829,577 shares during the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

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.