Piper Sandler Forecasts Strong Price Appreciation for Lightspeed Commerce (NYSE:LSPD) Stock

Lightspeed Commerce (NYSE:LSPD) had its target price increased by Piper Sandler from $15.00 to $17.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 7.61% from the stock’s previous close.

LSPD has been the subject of several other reports. Jefferies Financial Group decreased their price target on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Benchmark lifted their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BTIG Research reiterated a “buy” rating and issued a $21.00 target price on shares of Lightspeed Commerce in a research note on Thursday, September 26th. Royal Bank of Canada cut shares of Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

Lightspeed Commerce Stock Performance

LSPD stock opened at $18.40 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.06 and a current ratio of 6.19. The stock has a market cap of $2.79 billion, a P/E ratio of -19.94, a P/E/G ratio of 10.75 and a beta of 2.35. The firm has a 50 day simple moving average of $14.92 and a 200 day simple moving average of $14.13. Lightspeed Commerce has a 52 week low of $11.01 and a 52 week high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping 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 net margin of 13.56% and a negative return on equity of 0.10%. Research analysts anticipate that Lightspeed Commerce will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in Lightspeed Commerce by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock worth $1,567,000 after acquiring an additional 2,459 shares during the period. TD Asset Management Inc increased its position in Lightspeed Commerce by 0.7% during the second quarter. TD Asset Management Inc now owns 384,137 shares of the company’s stock worth $5,250,000 after acquiring an additional 2,828 shares during the period. Toronto Dominion Bank increased its position in Lightspeed Commerce by 102.8% during the second quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after acquiring an additional 3,482 shares during the period. Addenda Capital Inc. increased its position in Lightspeed Commerce by 10.5% during the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after acquiring an additional 4,196 shares during the period. Finally, CIBC Asset Management Inc increased its position in Lightspeed Commerce by 6.6% during the second quarter. CIBC Asset Management Inc now owns 175,008 shares of the company’s stock worth $2,391,000 after acquiring an additional 10,809 shares during the period. 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.