Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $19.00 by Analysts at Scotiabank

Lightspeed Commerce (NYSE:LSPD) had its price objective lowered by Scotiabank from $21.00 to $19.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other equities analysts also recently commented on LSPD. Wells Fargo & Company decreased their target price on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday. Benchmark upped their price objective 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. Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Finally, Piper Sandler lowered their price objective on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lightspeed Commerce presently has an average rating of “Hold” and an average target price of $18.39.

Lightspeed Commerce Stock Up 4.3 %

NYSE:LSPD opened at $13.14 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. The stock has a 50-day moving average price of $15.53 and a two-hundred day moving average price of $14.99. Lightspeed Commerce has a 1 year low of $11.01 and a 1 year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.60%. As a group, sell-side analysts expect that Lightspeed Commerce will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of LSPD. Blue Trust Inc. raised its position in Lightspeed Commerce by 214.4% in the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after purchasing an additional 1,025 shares during the period. Aigen Investment Management LP purchased a new stake in Lightspeed Commerce in the third quarter valued at approximately $225,000. Toronto Dominion Bank raised its stake in Lightspeed Commerce by 153.4% during the 3rd quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock valued at $287,000 after acquiring an additional 10,538 shares during the last quarter. Amundi increased its stake in shares of Lightspeed Commerce by 20.5% during the fourth quarter. Amundi now owns 22,538 shares of the company’s stock worth $347,000 after acquiring an additional 3,838 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Lightspeed Commerce by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after acquiring an additional 1,276 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.