Lightspeed Commerce (NYSE:LSPD) Shares Gap Down After Analyst Downgrade

Lightspeed Commerce Inc. (NYSE:LSPD) shares gapped down before the market opened on Thursday after BMO Capital Markets lowered their price target on the stock from $15.00 to $14.00. The stock had previously closed at $9.94, but opened at $9.54. BMO Capital Markets currently has an outperform rating on the stock. Lightspeed Commerce shares last traded at $9.55, with a volume of 166,158 shares trading hands.

LSPD has been the subject of several other research reports. Barclays reduced their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Bank of America reduced their price target on Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada cut their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their target price on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, Scotiabank dropped their price target on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.82.

Institutional Trading of Lightspeed Commerce

Several institutional investors have recently modified their holdings of LSPD. Mackenzie Financial Corp lifted its position in Lightspeed Commerce by 156.9% in the fourth quarter. Mackenzie Financial Corp now owns 360,221 shares of the company’s stock worth $5,487,000 after purchasing an additional 220,000 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Lightspeed Commerce by 17.6% during the 4th quarter. Toronto Dominion Bank now owns 20,477 shares of the company’s stock worth $312,000 after acquiring an additional 3,069 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Lightspeed Commerce by 6.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,854 shares of the company’s stock valued at $1,871,000 after acquiring an additional 7,022 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of Lightspeed Commerce during the 4th quarter valued at about $261,000. Finally, Two Sigma Advisers LP increased its stake in Lightspeed Commerce by 165.6% in the fourth quarter. Two Sigma Advisers LP now owns 64,800 shares of the company’s stock valued at $987,000 after acquiring an additional 40,400 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

Lightspeed Commerce Price Performance

The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -11.71, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $12.63 and its 200-day moving average is $14.73.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. 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 positive return on equity of 0.61% and a negative net margin of 11.75%. Equities research analysts expect that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current fiscal year.

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.