Barclays Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $15.00

Lightspeed Commerce (NYSE:LSPD) had its target price dropped by analysts at Barclays from $18.00 to $15.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 14.15% from the stock’s previous close.

Several other research analysts have also recently commented on the company. Piper Sandler cut their price target on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group cut their price target on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research note on Friday. 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 note on Friday, November 8th. Scotiabank cut their price objective on Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.39.

Lightspeed Commerce Stock Up 4.3 %

Shares of NYSE LSPD traded up $0.54 on Friday, hitting $13.14. The company had a trading volume of 1,817,749 shares, compared to its average volume of 634,253. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $18.96. The business has a 50 day moving average of $15.53 and a two-hundred day moving average of $14.99. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.00 billion, a P/E ratio of -14.77 and a beta of 2.43.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. As a group, equities research analysts forecast that Lightspeed Commerce will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Lightspeed Commerce

Several large investors have recently added to or reduced their stakes in LSPD. Intact Investment Management Inc. increased its position in shares of Lightspeed Commerce by 10,117.5% during the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after purchasing an additional 869,090 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Lightspeed Commerce by 30.0% during 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 purchasing an additional 766,688 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lightspeed Commerce by 226.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after acquiring an additional 256,900 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Lightspeed Commerce during the 3rd quarter worth $3,500,000. Finally, LMR Partners LLP bought a new stake in shares of Lightspeed Commerce during the 3rd quarter worth $2,441,000. 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.