Scotiabank Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $19.00

Lightspeed Commerce (NYSE:LSPD) had its target price cut by Scotiabank from $21.00 to $19.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other equities analysts have also issued reports on LSPD. Piper Sandler reduced their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday. TD Securities raised their price objective on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Wells Fargo & Company reduced their price target on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Barclays downgraded shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $20.00 to $18.00 in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.39.

Lightspeed Commerce Price Performance

Shares of NYSE LSPD opened at $13.14 on Friday. Lightspeed Commerce has a fifty-two week low of $11.01 and a fifty-two week high of $18.96. The company has a market cap of $2.00 billion, a PE ratio of -16.43 and a beta of 2.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. The business has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $14.99.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.60% and a negative net margin of 11.75%. As a group, equities analysts expect that Lightspeed Commerce will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position in Lightspeed Commerce by 214.4% during the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after acquiring an additional 1,025 shares during the period. Aigen Investment Management LP purchased a new stake in Lightspeed Commerce during the 3rd quarter worth approximately $225,000. Toronto Dominion Bank raised its holdings in shares of Lightspeed Commerce by 153.4% during the third quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock valued at $287,000 after acquiring an additional 10,538 shares during the last quarter. Amundi lifted its position in shares of Lightspeed Commerce by 20.5% in the fourth quarter. Amundi now owns 22,538 shares of the company’s stock valued at $347,000 after acquiring an additional 3,838 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Lightspeed Commerce by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock worth $370,000 after acquiring an additional 1,276 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.

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.