Morgan Stanley Has Lowered Expectations for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price target lowered by analysts at Morgan Stanley from $11.50 to $9.50 in a report issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 1.51% from the stock’s current price.

Several other analysts have also recently issued reports on LSPD. Royal Bank Of Canada upped their price target on shares of Lightspeed Commerce from $10.00 to $13.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Lightspeed Commerce in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lightspeed Commerce from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.39.

Lightspeed Commerce Stock Down 2.3%

NYSE LSPD traded down $0.22 during mid-day trading on Monday, reaching $9.65. 67,418 shares of the company’s stock traded hands, compared to its average volume of 953,477. The company has a current ratio of 3.55, a quick ratio of 3.45 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 1-year low of $7.83 and a 1-year high of $13.72. The company has a fifty day simple moving average of $10.22 and a 200-day simple moving average of $9.68. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -13.81, a P/E/G ratio of 1.74 and a beta of 1.84.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, July 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $322.70 million for the quarter, compared to analyst estimates of $310.58 million. Lightspeed Commerce had a positive return on equity of 1.06% and a negative net margin of 7.81%.Lightspeed Commerce’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 EPS. As a group, equities research analysts expect that Lightspeed Commerce will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Hedge funds have recently added to or reduced their stakes in the business. Pale Fire Capital SE bought a new stake in shares of Lightspeed Commerce during the 1st quarter valued at about $49,500,000. Renaissance Technologies LLC lifted its holdings in Lightspeed Commerce by 1,221.5% in the first quarter. Renaissance Technologies LLC now owns 406,783 shares of the company’s stock worth $3,645,000 after acquiring an additional 376,000 shares during the last quarter. Royal Bank of Canada lifted its holdings in Lightspeed Commerce by 64.4% in the first quarter. Royal Bank of Canada now owns 2,226,453 shares of the company’s stock worth $19,950,000 after acquiring an additional 872,131 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Lightspeed Commerce in the fourth quarter valued at approximately $3,953,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Lightspeed Commerce during the second quarter valued at approximately $540,000. Institutional investors and hedge funds own 68.68% of the company’s stock.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc is a Montreal-based commerce technology company that provides cloud-based point-of-sale and business management software for small and mid-sized businesses. Its platform is designed for retailers, restaurants, golf operators and other location-based businesses, helping them manage transactions, inventory, customers and day-to-day operations through integrated digital tools.

Lightspeed’s products include point-of-sale systems, payment processing, inventory and order management, e-commerce capabilities, customer loyalty and marketing tools, analytics, and integrations with accounting and other business applications.