Benchmark Lowers Lightspeed Commerce (NYSE:LSPD) Price Target to $16.00

Lightspeed Commerce (NYSE:LSPD) had its price target cut by equities researchers at Benchmark from $21.00 to $16.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 76.31% from the company’s previous close.

A number of other brokerages also recently weighed in on LSPD. Barclays lowered their target price 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. Royal Bank of Canada cut their price target on shares of Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their price target on shares of 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. Scotiabank cut their price target on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Finally, Bank of America assumed coverage on Lightspeed Commerce in a report on Wednesday, February 19th. They set a “buy” rating and a $20.00 target price for the company. Eleven 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.09.

Lightspeed Commerce Price Performance

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

Lightspeed Commerce (NYSE:LSPD) last issued its 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 negative net margin of 11.75% and a positive return on equity of 0.61%. On average, equities research analysts predict that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Lightspeed Commerce by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,333,306 shares of the company’s stock valued at $81,319,000 after purchasing an additional 70,324 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in 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 in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Lightspeed Commerce by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 3,149,919 shares of the company’s stock valued at $48,009,000 after purchasing an additional 24,891 shares in the last quarter. Bank of Montreal Can lifted its holdings in Lightspeed Commerce by 1.1% during the fourth quarter. Bank of Montreal Can now owns 2,022,590 shares of the company’s stock valued at $30,803,000 after purchasing an additional 21,357 shares in the last quarter. Finally, Intact Investment Management Inc. raised its stake in Lightspeed Commerce by 94.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock valued at $26,031,000 after purchasing an additional 829,577 shares during the last quarter. 68.68% of the stock is currently 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.