Algert Global LLC Takes Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Algert Global LLC bought a new stake in Lightspeed Commerce Inc. (NYSE:LSPD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,170 shares of the company’s stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Lightspeed Commerce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company’s stock valued at $71,699,000 after purchasing an additional 62,394 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Lightspeed Commerce by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,205,168 shares of the company’s stock valued at $30,189,000 after buying an additional 64,944 shares during the last quarter. Bank of Montreal Can increased its stake in Lightspeed Commerce by 4.9% in the 2nd quarter. Bank of Montreal Can now owns 2,059,914 shares of the company’s stock valued at $28,281,000 after buying an additional 95,832 shares during the period. Intact Investment Management Inc. increased its stake in Lightspeed Commerce by 10,117.5% in the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after buying an additional 869,090 shares during the period. Finally, Marshall Wace LLP raised its position in Lightspeed Commerce by 306.5% during the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after buying an additional 608,661 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Stock Performance

Lightspeed Commerce stock opened at $18.80 on Friday. Lightspeed Commerce Inc. has a fifty-two week low of $11.01 and a fifty-two week high of $21.71. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -21.12 and a beta of 2.35. The stock has a fifty day moving average of $16.37 and a two-hundred day moving average of $14.58. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08.

Lightspeed Commerce (NYSE:LSPD) last announced its 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 firm had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. On average, analysts anticipate that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Piper Sandler boosted their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. BTIG Research reissued a “buy” rating and issued a $21.00 price target on shares of Lightspeed Commerce in a report on Thursday, September 26th. Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group decreased their target price on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lightspeed Commerce currently has an average rating of “Moderate Buy” and an average target price of $19.88.

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.