Lightspeed Commerce (NYSE:LSPD) Price Target Lowered to $17.00 at Scotiabank

Lightspeed Commerce (NYSE:LSPD) had its price target trimmed by Scotiabank from $19.00 to $17.00 in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has a sector outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Bank of America initiated coverage on Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target for the company. Wells Fargo & Company decreased their target price on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Barclays dropped their price target on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. UBS Group decreased their price objective on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a report on Friday, February 7th. Finally, Piper Sandler dropped their target price on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.89.

Lightspeed Commerce Stock Up 0.9 %

LSPD stock opened at $10.07 on Tuesday. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $12.84 and a 200-day simple moving average of $14.80. The company has a market capitalization of $1.54 billion, a P/E ratio of -12.59, a PEG ratio of 3.03 and a beta of 2.44. Lightspeed Commerce has a twelve month low of $9.88 and a twelve month high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data 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 0.61%. On average, equities research analysts predict 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 bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of Lightspeed Commerce by 214.4% in the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after purchasing an additional 1,025 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Lightspeed Commerce by 27.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock valued at $158,000 after buying an additional 2,168 shares during the period. Bayesian Capital Management LP acquired a new position in Lightspeed Commerce during the fourth quarter valued at $165,000. Susquehanna Fundamental Investments LLC purchased a new stake in Lightspeed Commerce in the 4th quarter worth about $256,000. Finally, Twinbeech Capital LP acquired a new stake in Lightspeed Commerce during the 4th quarter worth about $261,000. Hedge funds and other 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.