Lightspeed Commerce (NYSE:LSPD) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of Lightspeed Commerce (NYSE:LSPD) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $20.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Lightspeed Commerce from $15.00 to $14.00 and set a neutral rating for the company in a report on Tuesday, August 20th. Royal Bank of Canada cut Lightspeed Commerce from a moderate buy rating to a strong sell rating in a report on Thursday, August 15th. BMO Capital Markets boosted their price objective on Lightspeed Commerce from $18.00 to $20.00 and gave the company an outperform rating in a research report on Thursday. Jefferies Financial Group decreased their target price on Lightspeed Commerce from $22.00 to $20.00 and set a hold rating on the stock in a research report on Wednesday, August 21st. Finally, BTIG Research reissued a buy rating and issued a $21.00 price target on shares of Lightspeed Commerce in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $18.59.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD opened at $16.76 on Thursday. The company has a 50 day simple moving average of $13.17 and a two-hundred day simple moving average of $13.65. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -15.66, a PEG ratio of 8.59 and a beta of 2.32. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Lightspeed Commerce had a negative return on equity of 0.99% and a negative net margin of 15.55%. The business had revenue of $266.10 million during the quarter, compared to analyst estimates of $258.58 million. During the same quarter last year, the business posted ($0.14) EPS. The company’s revenue was up 27.3% on a year-over-year basis. As a group, analysts predict that Lightspeed Commerce will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc raised its holdings in shares of Lightspeed Commerce by 0.5% during the 4th quarter. TD Asset Management Inc now owns 361,808 shares of the company’s stock worth $7,633,000 after acquiring an additional 1,938 shares during the period. Addenda Capital Inc. boosted its holdings in Lightspeed Commerce by 5.3% in the 1st quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock valued at $560,000 after purchasing an additional 1,990 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Lightspeed Commerce by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock valued at $1,567,000 after purchasing an additional 2,459 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Lightspeed Commerce in the 1st quarter valued at approximately $35,000. Finally, Toronto Dominion Bank raised its position in shares of Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after buying an additional 3,482 shares during the period. 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.