Cormark Cuts Lightspeed Commerce (TSE:LSPD) Price Target to C$21.00

Lightspeed Commerce (TSE:LSPD) had its target price lowered by analysts at Cormark from C$24.00 to C$21.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Cormark’s price target points to a potential upside of 57.78% from the stock’s current price.

LSPD has been the subject of several other research reports. Raymond James reduced their price objective on shares of Lightspeed Commerce from C$29.00 to C$25.00 and set an “outperform” rating for the company in a research report on Tuesday. Stifel Nicolaus reduced their target price on shares of Lightspeed Commerce from C$18.00 to C$15.00 and set a “hold” rating for the company in a report on Friday, February 7th. BMO Capital Markets cut their price objective on Lightspeed Commerce from C$20.00 to C$15.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Scotiabank decreased their target price on Lightspeed Commerce from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, TD Securities cut their target price on Lightspeed Commerce from C$19.00 to C$13.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$18.89.

Lightspeed Commerce Price Performance

Shares of LSPD traded down C$0.87 during midday trading on Thursday, reaching C$13.31. The stock had a trading volume of 538,421 shares, compared to its average volume of 700,610. The firm’s 50 day moving average price is C$18.27 and its 200-day moving average price is C$20.79. Lightspeed Commerce has a 52 week low of C$13.23 and a 52 week high of C$26.60. The company has a market capitalization of C$1.45 billion, a P/E ratio of -11.83 and a beta of 2.69. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.10 and a quick ratio of 6.05.

Insider Activity

In other news, Senior Officer Asha Hotchandani (Bakshani) sold 22,489 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of C$15.72, for a total value of C$353,527.08. Also, Senior Officer Daniel Robert Micak sold 3,995 shares of Lightspeed Commerce stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of C$19.53, for a total transaction of C$78,022.35. 9.93% of the stock is owned by company insiders.

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.