PDT Partners LLC Purchases New Position in Lightspeed Commerce Inc. (NYSE:LSPD)

PDT Partners LLC acquired a new position in shares of Lightspeed Commerce Inc. (NYSE:LSPD) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 39,962 shares of the company’s stock, valued at approximately $659,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Lightspeed Commerce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company’s stock worth $71,699,000 after buying an additional 62,394 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Lightspeed Commerce by 30.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after acquiring an additional 766,688 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Lightspeed Commerce by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,205,168 shares of the company’s stock worth $30,189,000 after purchasing an additional 64,944 shares during the last quarter. Bank of Montreal Can increased its position in shares of Lightspeed Commerce by 4.9% during the second quarter. Bank of Montreal Can now owns 2,059,914 shares of the company’s stock worth $28,281,000 after purchasing an additional 95,832 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in shares of Lightspeed Commerce by 10,117.5% during the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after purchasing an additional 869,090 shares during the last quarter. 68.68% of the stock is owned by institutional investors.

Lightspeed Commerce Price Performance

NYSE:LSPD opened at $17.12 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. The company has a 50 day moving average price of $16.37 and a 200-day moving average price of $14.59. Lightspeed Commerce Inc. has a 1-year low of $11.01 and a 1-year high of $21.71. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -19.38 and a beta of 2.35.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LSPD shares. Benchmark raised their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. BMO Capital Markets increased their price objective on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Piper Sandler boosted 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, November 11th. Finally, BTIG Research restated a “buy” rating and set a $21.00 price target on shares of Lightspeed Commerce in a research note on Thursday, September 26th. Nine investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

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.