Lightspeed Commerce (NYSE:LSPD) Cut to “Sector Perform” at Scotiabank

Lightspeed Commerce (NYSE:LSPD) was downgraded by analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. They presently have a $11.00 price target on the stock, down from their prior price target of $17.00. Scotiabank’s target price indicates a potential upside of 8.96% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Atb Cap Markets downgraded shares of Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 26th. Barclays dropped their price target on Lightspeed Commerce from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Benchmark reduced their price target on shares of Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Stifel Nicolaus reduced their target price on Lightspeed Commerce from $15.00 to $12.00 and set a “hold” rating on the stock in a report on Friday, March 28th. Finally, BMO Capital Markets reduced their price target on shares of Lightspeed Commerce from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lightspeed Commerce has a consensus rating of “Hold” and an average target price of $14.29.

Lightspeed Commerce Stock Performance

Shares of LSPD traded down $0.15 during mid-day trading on Monday, hitting $10.10. 792,455 shares of the company traded hands, compared to its average volume of 988,030. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -12.63, a P/E/G ratio of 3.03 and a beta of 2.52. The stock has a 50-day moving average price of $10.31 and a two-hundred day moving average price of $13.83. Lightspeed Commerce has a 1 year low of $7.34 and a 1 year high of $18.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.03 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 0.61%. Equities analysts anticipate that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Institutional Trading of Lightspeed Commerce

Institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its position in shares of Lightspeed Commerce by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock valued at $2,620,000 after buying an additional 679 shares in the last quarter. Addenda Capital Inc. increased its stake in shares of Lightspeed Commerce by 2.0% during the fourth quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock worth $710,000 after purchasing an additional 931 shares in the last quarter. Blue Trust Inc. raised its position in shares of Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after purchasing an additional 1,025 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Lightspeed Commerce by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock worth $370,000 after buying an additional 1,276 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in Lightspeed Commerce by 12.0% during the 4th quarter. Scotia Capital Inc. now owns 19,225 shares of the company’s stock worth $293,000 after buying an additional 2,053 shares in 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.