Lightspeed Commerce (NYSE:LSPD) Shares Gap Down on Disappointing Earnings

Lightspeed Commerce Inc. (NYSE:LSPD)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $14.50, but opened at $13.10. Lightspeed Commerce shares last traded at $12.62, with a volume of 309,641 shares trading hands.

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 return on equity of 0.10% and a negative net margin of 13.56%.

Wall Street Analyst Weigh In

LSPD has been the topic of several recent research reports. TD Securities lifted their target price on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Barclays lowered shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $20.00 to $18.00 in a report on Friday, January 10th. Benchmark increased their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler lifted their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company decreased their price target on Lightspeed Commerce from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lightspeed Commerce presently has an average rating of “Hold” and a consensus target price of $19.50.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently modified their holdings of LSPD. NINE MASTS CAPITAL Ltd acquired a new stake in Lightspeed Commerce in the fourth quarter worth $579,000. Alberta Investment Management Corp boosted its position in shares of Lightspeed Commerce by 45.5% during the 4th quarter. Alberta Investment Management Corp now owns 150,300 shares of the company’s stock worth $2,291,000 after purchasing an additional 47,000 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Lightspeed Commerce by 0.4% in 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 during the period. Blue Trust Inc. increased its position in 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. Finally, Addenda Capital Inc. raised its stake in Lightspeed Commerce by 2.0% during the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock worth $710,000 after buying an additional 931 shares during the period. Institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Trading Down 13.5 %

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 firm has a fifty day simple moving average of $15.65 and a 200-day simple moving average of $15.00. The firm has a market cap of $1.91 billion, a P/E ratio of -14.10 and a beta of 2.43.

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.