State Street Corp Acquires 79,696 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

State Street Corp boosted its position in Lightspeed Commerce Inc. (NYSE:LSPD) by 29.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 353,472 shares of the company’s stock after purchasing an additional 79,696 shares during the quarter. State Street Corp owned about 0.23% of Lightspeed Commerce worth $5,829,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Intact Investment Management Inc. lifted its holdings in shares of Lightspeed Commerce by 10,117.5% during the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after acquiring an additional 869,090 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Lightspeed Commerce by 30.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after purchasing an additional 766,688 shares during the last quarter. NewGen Asset Management Ltd bought a new position in shares of Lightspeed Commerce during the second quarter worth about $9,241,000. Marshall Wace LLP lifted its position in shares of Lightspeed Commerce by 306.5% in the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after purchasing an additional 608,661 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in Lightspeed Commerce by 345,464.1% during the second quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock valued at $5,535,000 after acquiring an additional 404,193 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.

Analyst Upgrades and Downgrades

LSPD has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. TD Securities boosted their price target on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Piper Sandler boosted their price target on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Finally, BMO Capital Markets boosted their price objective on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.07.

Lightspeed Commerce Price Performance

Shares of Lightspeed Commerce stock opened at $15.63 on Friday. The stock has a market capitalization of $2.37 billion, a P/E ratio of -17.56 and a beta of 2.40. Lightspeed Commerce Inc. has a one year low of $11.01 and a one year high of $21.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. The business’s 50 day simple moving average is $16.59 and its two-hundred day simple moving average is $14.80.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $277.18 million during the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. Analysts forecast that Lightspeed Commerce Inc. will post -0.02 EPS for the current 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.