Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $13.00

Lightspeed Commerce (NYSE:LSPD) had its price target lowered by Wells Fargo & Company from $16.00 to $13.00 in a report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Piper Sandler reduced their price target on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday. Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. TD Securities increased their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Benchmark lifted their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their target price on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Nine analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lightspeed Commerce presently has an average rating of “Hold” and an average target price of $18.39.

Lightspeed Commerce Trading Up 4.3 %

NYSE LSPD opened at $13.14 on Friday. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $18.96. The stock has a 50-day simple moving average of $15.42 and a 200 day simple moving average of $14.99. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.00 billion, a PE ratio of -16.43 and a beta of 2.42.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.03 EPS 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 0.60%. Research analysts forecast that Lightspeed Commerce will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in shares of Lightspeed Commerce by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock valued at $1,567,000 after acquiring an additional 2,459 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Lightspeed Commerce by 151.8% in the third quarter. Harbor Capital Advisors Inc. now owns 227,381 shares of the company’s stock valued at $3,750,000 after purchasing an additional 137,085 shares in the last quarter. Intact Investment Management Inc. increased its position 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 purchasing an additional 869,090 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Lightspeed Commerce during the 3rd quarter worth approximately $225,000. Finally, LMR Partners LLP acquired a new stake in shares of Lightspeed Commerce in the 3rd quarter valued at approximately $2,441,000. 68.68% of the stock is currently owned by institutional investors and hedge funds.

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.