Bank of America Begins Coverage on Lightspeed Commerce (NYSE:LSPD)

Stock analysts at Bank of America assumed coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a research note issued on Tuesday. The brokerage set an “underperform” rating and a $10.00 price target on the stock. Bank of America‘s price target indicates a potential upside of 13.52% from the company’s current price.

A number of other brokerages have also recently commented on LSPD. Truist Financial reduced their price target on Lightspeed Commerce from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, February 11th. BTIG Research cut their price objective on Lightspeed Commerce from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Royal Bank Of Canada reduced their target price on shares of Lightspeed Commerce from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Barclays decreased their target price on shares of Lightspeed Commerce from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Finally, Zacks Research lowered shares of Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Lightspeed Commerce currently has an average rating of “Hold” and a consensus target price of $13.09.

Lightspeed Commerce Stock Performance

LSPD traded down $0.14 during trading on Tuesday, hitting $8.81. The company’s stock had a trading volume of 207,223 shares, compared to its average volume of 908,283. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a one year low of $8.36 and a one year high of $14.34. The firm has a market cap of $1.21 billion, a PE ratio of -1.90, a P/E/G ratio of 1.73 and a beta of 1.92. The business’s 50 day simple moving average is $9.12 and its 200-day simple moving average is $10.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd raised its position in shares of Lightspeed Commerce by 880.0% during the fourth quarter. Plato Investment Management Ltd now owns 5,292 shares of the company’s stock valued at $64,000 after buying an additional 4,752 shares during the last quarter. Headlands Technologies LLC purchased a new position in Lightspeed Commerce during the second quarter valued at $92,000. Aigen Investment Management LP bought a new stake in Lightspeed Commerce in the 4th quarter valued at $125,000. Russell Investments Group Ltd. increased its holdings in Lightspeed Commerce by 106.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company’s stock valued at $122,000 after acquiring an additional 5,354 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Lightspeed Commerce in the 4th quarter worth $132,000. 68.68% of the stock is currently owned by institutional investors.

About Lightspeed Commerce

Lightspeed Commerce Inc is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.

The company’s product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.