Lightspeed Commerce (NYSE:LSPD) Now Covered by Analysts at Bank of America

Equities researchers at Bank of America assumed coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report released on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $20.00 price target on the stock. Bank of America‘s price objective indicates a potential upside of 45.72% from the stock’s current price.

Several other analysts also recently issued reports on the company. Piper Sandler decreased their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Wells Fargo & Company dropped their price objective on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. TD Securities boosted their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Benchmark upped their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.39.

Lightspeed Commerce Price Performance

LSPD opened at $13.73 on Wednesday. The stock has a fifty day simple moving average of $14.89 and a two-hundred day simple moving average of $15.02. 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 company has a market cap of $2.09 billion, a price-to-earnings ratio of -17.16, a price-to-earnings-growth ratio of 3.06 and a beta of 2.42. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. Research analysts predict that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in Lightspeed Commerce by 29.1% during the third quarter. State Street Corp now owns 353,472 shares of the company’s stock valued at $5,829,000 after purchasing an additional 79,696 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after purchasing an additional 869,090 shares during the period. Verition Fund Management LLC acquired a new stake in Lightspeed Commerce in the 3rd quarter valued at about $499,000. Westfield Capital Management Co. LP lifted its holdings 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 acquiring an additional 766,688 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Lightspeed Commerce by 226.1% in the 3rd 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 hedge funds and other institutional investors.

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.