Lightspeed Commerce (NYSE:LSPD) Shares Gap Down – What’s Next?

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) gapped down prior to trading on Friday . The stock had previously closed at $15.38, but opened at $14.74. Lightspeed Commerce shares last traded at $14.60, with a volume of 57,487 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. 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. JPMorgan Chase & Co. upped their price target on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Piper Sandler boosted their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Barclays cut shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $20.00 to $18.00 in a research note on Friday. Finally, BTIG Research reiterated a “buy” rating and issued a $21.00 target price on shares of Lightspeed Commerce in a report on Thursday, September 26th. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.93.

Lightspeed Commerce Price Performance

The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -16.38 and a beta of 2.44. 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 stock’s 50 day simple moving average is $16.67 and its two-hundred day simple moving average is $14.88.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results 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 firm had revenue of $277.18 million during the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. On average, analysts forecast that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LSPD. Intact Investment Management Inc. raised its holdings in shares of Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after buying an additional 869,090 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Lightspeed Commerce by 30.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after buying an additional 766,688 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Lightspeed Commerce by 306.5% in the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock valued at $11,051,000 after buying an additional 608,661 shares during the period. 1832 Asset Management L.P. raised its position in shares of Lightspeed Commerce by 345,464.1% during the second quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock worth $5,535,000 after acquiring an additional 404,193 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Lightspeed Commerce by 226.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock valued at $6,108,000 after acquiring an additional 256,900 shares during the last quarter. 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.