Lightspeed Commerce (NYSE:LSPD) Upgraded by Royal Bank of Canada to Moderate Buy Rating

Royal Bank of Canada upgraded shares of Lightspeed Commerce (NYSE:LSPD) from a strong sell rating to a moderate buy rating in a report published on Friday,Zacks.com reports.

Several other analysts also recently issued reports on LSPD. Wells Fargo & Company decreased their price objective on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. BTIG Research reaffirmed a “buy” rating and set a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Jefferies Financial Group reduced their target price on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Finally, Piper Sandler raised their target price on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

Lightspeed Commerce Stock Up 4.0 %

Shares of NYSE:LSPD opened at $17.75 on Friday. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $21.71. The company has a 50-day moving average price of $14.92 and a 200 day moving average price of $14.13. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -19.94, a PEG ratio of 10.75 and a beta of 2.35.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. As a group, equities research analysts predict that Lightspeed Commerce will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Several institutional investors and hedge funds have recently bought and sold shares of LSPD. Toronto Dominion Bank lifted its holdings in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after acquiring an additional 3,482 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Lightspeed Commerce in the 2nd quarter worth approximately $181,000. Aigen Investment Management LP acquired a new stake in Lightspeed Commerce during the 3rd quarter worth approximately $225,000. Addenda Capital Inc. lifted its holdings in Lightspeed Commerce by 10.5% during the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after buying an additional 4,196 shares in the last quarter. Finally, Boulder Hill Capital Management LP acquired a new stake in Lightspeed Commerce during the 1st quarter worth approximately $811,000. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Company Profile

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.