Lightspeed Commerce (NYSE:LSPD) Shares Gap Down Following Analyst Downgrade

Lightspeed Commerce Inc. (NYSE:LSPD) gapped down prior to trading on Thursday after Benchmark lowered their price target on the stock from $21.00 to $16.00. The stock had previously closed at $9.94, but opened at $9.54. Benchmark currently has a buy rating on the stock. Lightspeed Commerce shares last traded at $9.55, with a volume of 166,158 shares trading hands.

A number of other equities research analysts have also weighed in on LSPD. UBS Group lowered their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a report on Friday, February 7th. Piper Sandler decreased their price target on Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America initiated coverage on Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price objective for the company. Barclays lowered their target price on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.39.

Hedge Funds Weigh In On Lightspeed Commerce

A number of large investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Lightspeed Commerce by 29.1% during the 3rd quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after buying an additional 79,696 shares during the last quarter. PCJ Investment Counsel Ltd. increased its stake in Lightspeed Commerce by 33.8% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock worth $1,874,000 after acquiring an additional 31,060 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Lightspeed Commerce in the 3rd quarter worth about $499,000. NINE MASTS CAPITAL Ltd acquired a new position in shares of Lightspeed Commerce in the 4th quarter valued at about $579,000. Finally, PDT Partners LLC purchased a new stake in shares of Lightspeed Commerce during the 3rd quarter worth about $659,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Stock Performance

The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -11.91, a P/E/G ratio of 3.03 and a beta of 2.44. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $12.74 and its 200-day moving average is $14.77.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. On average, analysts expect that Lightspeed Commerce Inc. will post 0.08 EPS for the current year.

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.