Bank of America Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price target lowered by analysts at Bank of America from $20.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 98.35% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Benchmark dropped their price target on shares of Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday. Scotiabank reduced their price objective on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Tuesday. UBS Group decreased their price objective on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a report on Friday, February 7th. Royal Bank of Canada lowered their price objective on shares of Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Piper Sandler dropped their price objective on shares of Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lightspeed Commerce has a consensus rating of “Hold” and a consensus target price of $16.09.

Lightspeed Commerce Price Performance

Shares of NYSE:LSPD opened at $9.08 on Thursday. The stock has a market cap of $1.39 billion, a P/E ratio of -11.34, a P/E/G ratio of 3.03 and a beta of 2.44. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $12.52 and a 200 day moving average of $14.71. Lightspeed Commerce has a 12 month low of $9.00 and a 12 month high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last announced its 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, sell-side analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several institutional investors have recently added to or reduced their stakes in LSPD. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Lightspeed Commerce by 37,065.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company’s stock worth $63,688,000 after purchasing an additional 4,170,557 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Lightspeed Commerce during the fourth quarter valued at approximately $24,334,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Lightspeed Commerce by 266.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company’s stock worth $20,660,000 after purchasing an additional 986,100 shares during the last quarter. Intact Investment Management Inc. increased its position in shares of Lightspeed Commerce by 94.5% during the fourth quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock worth $26,031,000 after purchasing an additional 829,577 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Lightspeed Commerce by 304.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 397,752 shares of the company’s stock worth $6,061,000 after acquiring an additional 299,482 shares during the last quarter. Hedge funds and other 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.