Lightspeed Commerce (NYSE:LSPD) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report released on Wednesday, Marketbeat reports. The firm issued a buy rating and a $20.00 price target on the stock.

A number of other analysts have also recently weighed in on LSPD. JPMorgan Chase & Co. increased their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. UBS Group decreased their target price on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research note on Friday, February 7th. Scotiabank dropped their price target on Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 7th. Benchmark upped their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler lowered their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lightspeed Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.39.

Lightspeed Commerce Stock Down 2.1 %

Lightspeed Commerce stock opened at $13.16 on Wednesday. The company has a market capitalization of $2.00 billion, a P/E ratio of -16.44, a PEG ratio of 3.07 and a beta of 2.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. Lightspeed Commerce has a fifty-two week low of $11.01 and a fifty-two week high of $18.96. The stock has a 50-day simple moving average of $14.71 and a 200-day simple moving average of $15.01.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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%. Equities research analysts expect that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of large investors have recently made changes to their positions in LSPD. Arrowstreet Capital Limited Partnership grew its position 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 buying an additional 4,170,557 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Lightspeed Commerce during the 4th quarter worth approximately $24,334,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Lightspeed Commerce by 266.2% in 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 acquiring an additional 986,100 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 purchasing an additional 869,090 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in Lightspeed Commerce by 30.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after purchasing an additional 766,688 shares during the last quarter. 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.