BMO Capital Markets Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price target dropped by BMO Capital Markets from $15.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 54.27% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on LSPD. Scotiabank lowered their price objective on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Royal Bank of Canada cut their price target on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Barclays decreased their price objective on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Piper Sandler cut their target price on Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Bank of America decreased 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. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.09.

Lightspeed Commerce Stock Performance

Shares of LSPD opened at $9.08 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The firm has a 50-day moving average of $12.52 and a 200-day moving average of $14.71. The company has a market cap of $1.39 billion, a PE ratio of -11.34, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. Lightspeed Commerce has a one year low of $9.00 and a one year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data 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, equities analysts forecast that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of large investors have recently modified their holdings of the company. CIBC Asset Management Inc increased its holdings in shares of Lightspeed Commerce by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock worth $2,620,000 after buying an additional 679 shares during the last quarter. Addenda Capital Inc. grew its stake in shares of Lightspeed Commerce by 2.0% in the fourth quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock worth $710,000 after purchasing an additional 931 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Lightspeed Commerce by 214.4% during the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after acquiring an additional 1,025 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Lightspeed Commerce by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after buying an additional 1,276 shares during the period. Finally, Scotia Capital Inc. lifted its stake in shares of Lightspeed Commerce by 12.0% in the 4th quarter. Scotia Capital Inc. now owns 19,225 shares of the company’s stock valued at $293,000 after purchasing an additional 2,053 shares during the period. 68.68% of the stock is currently owned by 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.