Royal Bank of Canada Upgrades Lightspeed Commerce (NYSE:LSPD) to Moderate Buy

Lightspeed Commerce (NYSE:LSPD) was upgraded by equities research analysts at Royal Bank of Canada from a “strong sell” rating to a “moderate buy” rating in a research note issued to investors on Friday,Zacks.com reports.

LSPD has been the subject of a number of other reports. BTIG Research reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Lightspeed Commerce in a research note on Thursday, September 26th. Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday. Benchmark boosted their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group reduced their target price on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Lightspeed Commerce Stock Up 4.0 %

Shares of LSPD opened at $17.75 on Friday. The firm has a market capitalization of $2.69 billion, a P/E ratio of -19.94, a P/E/G ratio of 10.75 and a beta of 2.35. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $21.71. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $14.92 and a 200-day moving average price of $14.13.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. The firm had revenue of $277.18 million during the quarter, compared to analyst estimates of $273.90 million. Equities research analysts expect that Lightspeed Commerce will post 0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank lifted its position in shares of Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after buying an additional 3,482 shares in the last quarter. Headlands Technologies LLC acquired a new position in Lightspeed Commerce in the 2nd quarter valued at $181,000. Aigen Investment Management LP acquired a new position in Lightspeed Commerce in the 3rd quarter valued at $225,000. Addenda Capital Inc. raised its stake in Lightspeed Commerce by 10.5% in the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock valued at $603,000 after purchasing an additional 4,196 shares during the last quarter. Finally, Boulder Hill Capital Management LP acquired a new position in Lightspeed Commerce in the 1st quarter valued at $811,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

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.