Lightspeed Commerce (NYSE:LSPD) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $20.00 price target on the stock.

A number of other analysts have also recently issued reports on the company. Benchmark lifted their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Piper Sandler lowered their price target on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, February 6th. TD Securities boosted their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Finally, Scotiabank lowered their price target on Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lightspeed Commerce has an average rating of “Moderate Buy” and an average target price of $18.39.

Lightspeed Commerce Price Performance

LSPD opened at $13.66 on Wednesday. The stock has a fifty day moving average of $14.83 and a 200-day moving average of $15.01. The firm has a market capitalization of $2.07 billion, a P/E ratio of -17.07, a PEG ratio of 3.06 and a beta of 2.42. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $18.96. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. Equities analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Lightspeed Commerce by 29.1% during the third quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after purchasing an additional 79,696 shares during the period. Intact Investment Management Inc. boosted its position in Lightspeed Commerce by 10,117.5% during the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after purchasing an additional 869,090 shares during the period. Verition Fund Management LLC bought a new stake in Lightspeed Commerce during the third quarter worth approximately $499,000. Westfield Capital Management Co. LP boosted its position in shares of 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 valued at $54,838,000 after acquiring an additional 766,688 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Lightspeed Commerce by 226.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock valued at $6,108,000 after acquiring an additional 256,900 shares during the period. Institutional investors own 68.68% of the company’s stock.

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.