Bank of America Begins Coverage on Lightspeed Commerce (NYSE:LSPD)

Analysts at Bank of America initiated coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Bank of America‘s price objective suggests a potential upside of 45.72% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Benchmark raised their price objective on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Piper Sandler reduced their price objective on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Barclays cut their price target on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Finally, UBS Group cut their price target on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a report on Friday, February 7th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.39.

Lightspeed Commerce Stock Up 1.4 %

LSPD stock opened at $13.73 on Wednesday. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $18.96. The firm has a market cap of $2.09 billion, a PE ratio of -17.16, a P/E/G ratio of 3.06 and a beta of 2.42. The firm has a 50 day simple moving average of $14.89 and a 200 day simple moving average of $15.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results 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%. Equities research analysts forecast that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after purchasing an additional 1,025 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Lightspeed Commerce by 27.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock worth $158,000 after buying an additional 2,168 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Lightspeed Commerce in the 4th quarter valued at about $165,000. Aigen Investment Management LP bought a new stake in Lightspeed Commerce in the 3rd quarter valued at about $225,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Lightspeed Commerce in the 4th quarter valued at about $256,000. Institutional investors own 68.68% of the company’s stock.

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.