Benchmark Initiates Coverage on Lightspeed Commerce (NYSE:LSPD)

Research analysts at Benchmark initiated coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report issued on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $20.00 price target on the stock. Benchmark’s price target suggests a potential upside of 49.98% from the company’s previous close.

A number of other brokerages have also recently issued reports on LSPD. UBS Group upped their price target on shares of Lightspeed Commerce from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Jefferies Financial Group cut their price target on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. BMO Capital Markets reduced their price target on shares of Lightspeed Commerce from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Piper Sandler lowered their price objective on Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on Lightspeed Commerce from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, ten have assigned 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.65.

Lightspeed Commerce Stock Performance

NYSE:LSPD opened at $13.34 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.06 and a current ratio of 6.19. Lightspeed Commerce has a fifty-two week low of $11.01 and a fifty-two week high of $21.71. The business has a 50 day moving average price of $13.02 and a 200-day moving average price of $13.59. The firm has a market cap of $2.04 billion, a PE ratio of -12.46, a price-to-earnings-growth ratio of 62.94 and a beta of 2.32.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.10 EPS 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 in the prior year, the company posted ($0.14) EPS. Lightspeed Commerce’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities research analysts predict that Lightspeed Commerce will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Lightspeed Commerce during the 2nd quarter worth approximately $956,000. Mackenzie Financial Corp lifted its position in Lightspeed Commerce by 6.4% in the second quarter. Mackenzie Financial Corp now owns 194,494 shares of the company’s stock valued at $2,659,000 after acquiring an additional 11,740 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Lightspeed Commerce by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock valued at $1,567,000 after acquiring an additional 2,459 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Lightspeed Commerce by 102.8% during the second quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after purchasing an additional 3,482 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Lightspeed Commerce by 306.5% during the second quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after purchasing an additional 608,661 shares in the last quarter. 68.68% of the stock is 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.