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

Lightspeed Commerce (NYSE:LSPD) had its target price cut by Bank of America from $20.00 to $18.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Benchmark cut their price objective on Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating for the company in a report on Thursday. Wells Fargo & Company cut their price target on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Scotiabank decreased 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 note on Tuesday. UBS Group cut 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. Finally, Barclays decreased 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. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $16.82.

Lightspeed Commerce Price Performance

Shares of Lightspeed Commerce stock opened at $9.37 on Thursday. The firm has a market cap of $1.43 billion, a P/E ratio of -11.71, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. The firm’s 50-day simple moving average is $12.63 and its 200-day simple moving average is $14.73. Lightspeed Commerce has a twelve month low of $9.25 and a twelve month high of $18.96. 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 (NYSE:LSPD) last released its quarterly earnings data 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 negative net margin of 11.75% and a positive return on equity of 0.61%. As a group, research analysts expect that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased 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 worth $25,000 after acquiring an additional 1,025 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Lightspeed Commerce by 27.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock valued at $158,000 after purchasing an additional 2,168 shares during the period. Bayesian Capital Management LP bought a new stake in Lightspeed Commerce during the 4th quarter worth approximately $165,000. Susquehanna Fundamental Investments LLC acquired a new stake in Lightspeed Commerce during the 4th quarter worth approximately $256,000. Finally, Twinbeech Capital LP acquired a new stake in Lightspeed Commerce during the 4th quarter worth approximately $261,000. 68.68% of the stock is 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.