Piper Sandler Has Lowered Expectations for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its target price dropped by research analysts at Piper Sandler from $17.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential downside of 1.07% from the company’s current price.

LSPD has been the subject of several other research reports. Wells Fargo & Company dropped their price objective on shares of Lightspeed Commerce from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, January 16th. Barclays cut Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $18.00 in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. TD Securities raised their price objective on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lightspeed Commerce presently has a consensus rating of “Hold” and a consensus price target of $18.39.

Lightspeed Commerce Price Performance

LSPD opened at $13.14 on Thursday. The stock has a fifty day moving average price of $15.53 and a 200 day moving average price of $14.99. Lightspeed Commerce has a 1 year low of $11.01 and a 1 year high of $18.96. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -14.77 and a beta of 2.43. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01.

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 return on equity of 0.10% and a negative net margin of 13.56%. Analysts forecast that Lightspeed Commerce will post -0.02 EPS for the current fiscal year.

Institutional Trading of Lightspeed Commerce

Large investors have recently modified their holdings of the company. Intact Investment Management Inc. raised its position in shares of Lightspeed Commerce by 10,117.5% during the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after buying an additional 869,090 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Lightspeed Commerce by 30.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after purchasing an additional 766,688 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Lightspeed Commerce by 226.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after purchasing an additional 256,900 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Lightspeed Commerce in the third quarter worth $3,500,000. Finally, LMR Partners LLP purchased a new position in shares of Lightspeed Commerce in the 3rd quarter valued at approximately $2,441,000. Institutional investors own 68.68% of the company’s stock.

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.