Lightspeed Commerce (NYSE:LSPD) Price Target Lowered to $17.00 at Scotiabank

Lightspeed Commerce (NYSE:LSPD) had its target price trimmed by Scotiabank from $19.00 to $17.00 in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a sector outperform rating on the stock.

LSPD has been the topic of several other reports. Piper Sandler reduced their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. UBS Group cut their price objective on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a report on Friday, February 7th. Wells Fargo & Company lowered their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Barclays cut their price target on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Finally, Bank of America began coverage on shares of Lightspeed Commerce in a research note on Wednesday, February 19th. They set a “buy” rating and a $20.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.89.

Lightspeed Commerce Stock Performance

NYSE LSPD opened at $10.07 on Tuesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -12.59, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. The business has a fifty day moving average of $12.84 and a 200-day moving average of $14.80. Lightspeed Commerce has a fifty-two week low of $9.88 and a fifty-two week 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 released its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts predict that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Lightspeed Commerce by 29.1% during the third quarter. State Street Corp now owns 353,472 shares of the company’s stock valued at $5,829,000 after purchasing an additional 79,696 shares during the period. Verition Fund Management LLC acquired a new stake in Lightspeed Commerce during the 3rd quarter valued at $499,000. PCJ Investment Counsel Ltd. grew its holdings in Lightspeed Commerce by 33.8% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock valued at $1,874,000 after purchasing an additional 31,060 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in Lightspeed Commerce during the 4th quarter worth $579,000. Finally, PDT Partners LLC acquired a new position in Lightspeed Commerce in the 3rd quarter worth $659,000. 68.68% of the stock is owned by hedge funds and other institutional investors.

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.