Lightspeed Commerce (NYSE:LSPD) Shares Gap Up to $12.85

Lightspeed Commerce Inc. (NYSE:LSPD)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $12.85, but opened at $13.34. Lightspeed Commerce shares last traded at $13.23, with a volume of 120,023 shares traded.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BMO Capital Markets dropped their target price on Lightspeed Commerce from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada lowered Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. decreased their price objective on shares of Lightspeed Commerce from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Piper Sandler dropped their target price on shares of 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, Benchmark began coverage on shares of Lightspeed Commerce in a report on Tuesday. They issued a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lightspeed Commerce has an average rating of “Hold” and an average price target of $18.65.

Lightspeed Commerce Price Performance

The firm has a 50-day simple moving average of $13.02 and a two-hundred day simple moving average of $13.59. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -12.46, a P/E/G ratio of 62.94 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 (NYSE:LSPD) last posted its earnings results on Thursday, August 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $266.10 million for the quarter, compared to analyst estimates of $258.58 million. During the same period last year, the company earned ($0.14) earnings per share. Lightspeed Commerce’s revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, analysts predict that Lightspeed Commerce Inc. will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several large investors have recently made changes to their positions in LSPD. Westfield Capital Management Co. LP purchased a new position in Lightspeed Commerce in the first quarter valued at $34,984,000. Norges Bank acquired a new stake in shares of Lightspeed Commerce during the 4th quarter valued at about $25,993,000. Azora Capital LP increased its stake in shares of Lightspeed Commerce by 133.1% in the 4th quarter. Azora Capital LP now owns 1,579,312 shares of the company’s stock valued at $33,166,000 after purchasing an additional 901,861 shares in the last quarter. NewGen Asset Management Ltd acquired a new position in Lightspeed Commerce in the 2nd quarter worth about $9,241,000. Finally, Artisan Partners Limited Partnership boosted its position in Lightspeed Commerce by 13.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,297,686 shares of the company’s stock worth $111,232,000 after purchasing an additional 627,796 shares in the last quarter. 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.