Lightspeed Commerce (NYSE:LSPD) Rating Lowered to “Equal Weight” at Barclays

Lightspeed Commerce (NYSE:LSPD) was downgraded by stock analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, MarketBeat reports. They currently have a $18.00 target price on the stock, down from their previous target price of $20.00. Barclays‘s price target would suggest a potential upside of 21.62% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. BMO Capital Markets lifted their target price on Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Piper Sandler lifted their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. TD Securities lifted their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.93.

Lightspeed Commerce Stock Performance

NYSE LSPD opened at $14.80 on Friday. The stock has a market capitalization of $2.25 billion, a PE ratio of -16.63 and a beta of 2.44. The business has a 50 day simple moving average of $16.66 and a two-hundred day simple moving average of $14.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. Lightspeed Commerce has a 1-year low of $11.01 and a 1-year high of $20.09.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $277.18 million during the quarter, compared to analysts’ expectations of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. On average, research analysts predict that Lightspeed Commerce will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of LSPD. 1832 Asset Management L.P. raised its position in shares of Lightspeed Commerce by 345,464.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock worth $5,535,000 after acquiring an additional 404,193 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Lightspeed Commerce in the 2nd quarter worth $956,000. State Street Corp raised its position in shares of Lightspeed Commerce by 29.1% in the 3rd quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after acquiring an additional 79,696 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Lightspeed Commerce by 10,117.5% in 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 in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Lightspeed Commerce in the 3rd quarter worth $499,000. 68.68% of the stock is 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.