Benchmark Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price target decreased by Benchmark from $21.00 to $16.00 in a research note published on Thursday,Benzinga reports. Benchmark currently has a buy rating on the stock.

LSPD has been the subject of a number of other research reports. Wells Fargo & Company reduced 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. Royal Bank of Canada lowered their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group reduced their target price on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research report on Friday, February 7th. Piper Sandler lowered their price target on shares of Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Scotiabank cut their price objective on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.82.

Lightspeed Commerce Trading Down 5.8 %

Shares of Lightspeed Commerce stock opened at $9.37 on Thursday. The stock has a market cap of $1.43 billion, a P/E ratio of -11.71, a P/E/G ratio of 3.03 and a beta of 2.44. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12-month low of $9.25 and a 12-month high of $18.96. The business’s 50 day moving average is $12.63 and its 200-day moving average is $14.73.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly 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 0.61% and a negative net margin of 11.75%. Equities research analysts predict that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in Lightspeed Commerce by 214.4% in the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after buying 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% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock valued at $158,000 after acquiring an additional 2,168 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Lightspeed Commerce during the 4th quarter worth $165,000. Susquehanna Fundamental Investments LLC acquired a new position in Lightspeed Commerce in the 4th quarter worth about $256,000. Finally, Twinbeech Capital LP bought a new position in Lightspeed Commerce in the fourth quarter valued at about $261,000. 68.68% of the stock is currently owned by institutional investors and hedge funds.

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.