Lightspeed Commerce Inc. (NYSE:LSPD – Get Free Report)’s stock price reached a new 52-week low on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $16.00 to $15.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Lightspeed Commerce traded as low as $10.80 and last traded at $10.80, with a volume of 3296 shares traded. The stock had previously closed at $11.92.
LSPD has been the topic of several other reports. Jefferies Financial Group reduced their price target on Lightspeed Commerce from $16.00 to $14.50 and set a “hold” rating on the stock in a research report on Friday. Bank of America raised their price target on Lightspeed Commerce from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. Scotiabank lifted their price target on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 17th. UBS Group boosted their price objective on Lightspeed Commerce from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, National Bankshares upped their price objective on Lightspeed Commerce from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday, May 17th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.28.
Hedge Funds Weigh In On Lightspeed Commerce
Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc raised its holdings in Lightspeed Commerce by 0.5% in the fourth quarter. TD Asset Management Inc now owns 361,808 shares of the company’s stock valued at $7,633,000 after buying an additional 1,938 shares during the period. Addenda Capital Inc. boosted its holdings in Lightspeed Commerce by 5.3% in the first quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock worth $560,000 after purchasing an additional 1,990 shares during the period. Dixon Mitchell Investment Counsel Inc. acquired a new position in Lightspeed Commerce in the first quarter worth $35,000. CIBC Asset Management Inc lifted its stake in Lightspeed Commerce by 3.8% in the fourth quarter. CIBC Asset Management Inc now owns 151,989 shares of the company’s stock valued at $3,201,000 after buying an additional 5,559 shares during the last quarter. Finally, Conestoga Capital Advisors LLC bought a new stake in Lightspeed Commerce in the first quarter valued at $141,000. 68.68% of the stock is owned by institutional investors and hedge funds.
Lightspeed Commerce Price Performance
The business has a 50 day simple moving average of $13.99 and a 200-day simple moving average of $14.35. The company has a quick ratio of 6.23, a current ratio of 6.34 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.81 billion, a P/E ratio of -10.12 and a beta of 2.33.
Lightspeed Commerce (NYSE:LSPD – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $266.10 million for the quarter, compared to analysts’ expectations of $258.58 million. Lightspeed Commerce had a negative return on equity of 0.98% and a negative net margin of 15.55%. Lightspeed Commerce’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) EPS. Analysts predict that Lightspeed Commerce Inc. will post -0.39 EPS for the current fiscal year.
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.
