Lightspeed Commerce (NYSE:LSPD) Price Target Lowered to $18.00 at Bank of America

Lightspeed Commerce (NYSE:LSPD) had its target price decreased by Bank of America from $20.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 98.35% from the company’s previous close.

LSPD has been the subject of a number of other reports. Piper Sandler dropped their price target on shares of Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. Royal Bank of Canada lowered their price target on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Scotiabank lowered their price objective on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Finally, UBS Group cut their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research report on Friday, February 7th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lightspeed Commerce currently has an average rating of “Hold” and a consensus target price of $16.09.

Lightspeed Commerce Stock Performance

NYSE:LSPD opened at $9.08 on Thursday. Lightspeed Commerce has a fifty-two week low of $9.00 and a fifty-two week high of $18.96. The company has a fifty day moving average of $12.52 and a two-hundred day moving average of $14.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. The stock has a market capitalization of $1.39 billion, a PE ratio of -11.34, a P/E/G ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts forecast that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its stake in Lightspeed Commerce by 37,065.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company’s stock worth $63,688,000 after purchasing an additional 4,170,557 shares during the period. Ameriprise Financial Inc. purchased a new stake in Lightspeed Commerce during the 4th quarter worth $24,334,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Lightspeed Commerce by 266.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company’s stock worth $20,660,000 after purchasing an additional 986,100 shares during the last quarter. Intact Investment Management Inc. grew its holdings in Lightspeed Commerce by 94.5% during the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock worth $26,031,000 after acquiring an additional 829,577 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in Lightspeed Commerce by 304.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 397,752 shares of the company’s stock worth $6,061,000 after purchasing an additional 299,482 shares in the last quarter. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Company Profile

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.