Morgan Stanley Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $12.00

Lightspeed Commerce (NYSE:LSPD) had its price objective trimmed by Morgan Stanley from $14.00 to $12.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently issued reports on LSPD. Royal Bank of Canada cut their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Piper Sandler reduced their price target on shares of Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Stifel Nicolaus dropped their price objective on shares of Lightspeed Commerce from $15.00 to $12.00 and set a “hold” rating for the company in a report on Friday, March 28th. Bank of America cut 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 note on Thursday, March 27th. Finally, Atb Cap Markets cut shares of Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.91.

Lightspeed Commerce Stock Up 1.5 %

Shares of LSPD opened at $9.30 on Wednesday. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.42 billion, a P/E ratio of -11.62, a price-to-earnings-growth ratio of 3.03 and a beta of 2.52. The company’s 50-day moving average price is $10.68 and its 200 day moving average price is $14.07. Lightspeed Commerce has a 12-month low of $7.34 and a 12-month high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data 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 positive return on equity of 0.61% and a negative net margin of 11.75%. On average, sell-side analysts forecast that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Several hedge funds have recently added to or reduced their stakes in LSPD. Blue Trust Inc. boosted its holdings in shares of Lightspeed Commerce by 214.4% in the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after buying an additional 1,025 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Lightspeed Commerce by 27.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock valued at $158,000 after acquiring an additional 2,168 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Lightspeed Commerce in the fourth quarter valued at $165,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Lightspeed Commerce during the fourth quarter worth about $256,000. Finally, Twinbeech Capital LP acquired a new stake in shares of Lightspeed Commerce during the fourth quarter worth about $261,000. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

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.