Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 226.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,500 shares of the company’s stock after buying an additional 256,900 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.24% of Lightspeed Commerce worth $6,108,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Lightspeed Commerce by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock valued at $1,567,000 after purchasing an additional 2,459 shares during the period. TD Asset Management Inc increased its position in shares of Lightspeed Commerce by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 384,137 shares of the company’s stock valued at $5,250,000 after purchasing an additional 2,828 shares during the last quarter. Toronto Dominion Bank raised its holdings in 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 during the period. Addenda Capital Inc. lifted its position in Lightspeed Commerce by 10.5% in the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after buying an additional 4,196 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Lightspeed Commerce by 6.6% during the second quarter. CIBC Asset Management Inc now owns 175,008 shares of the company’s stock worth $2,391,000 after buying an additional 10,809 shares during the period. Institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Price Performance

NYSE LSPD opened at $17.74 on Friday. The company has a market cap of $2.69 billion, a PE ratio of -19.93 and a beta of 2.35. The firm’s 50 day moving average price is $15.86 and its 200-day moving average price is $14.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. Lightspeed Commerce Inc. has a 52-week low of $11.01 and a 52-week high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $277.18 million for the quarter, compared to analysts’ expectations of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. Sell-side analysts forecast that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LSPD has been the topic of several recent analyst reports. Piper Sandler increased their target price on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Royal Bank of Canada raised shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. Benchmark upped their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BTIG Research reissued a “buy” rating and set a $21.00 price target on shares of Lightspeed Commerce in a research note on Thursday, September 26th. Finally, Jefferies Financial Group cut their price objective on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

Lightspeed Commerce 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.