Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $11.00 by Analysts at Piper Sandler

Lightspeed Commerce (NYSE:LSPD) had its target price cut by research analysts at Piper Sandler from $13.00 to $11.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 10.72% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Bank of America started coverage on shares of Lightspeed Commerce in a report on Wednesday, February 19th. They set a “buy” rating and a $20.00 price target for the company. Scotiabank cut their price target on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Tuesday. Barclays reduced their price target on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company lowered their price objective on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Finally, UBS Group reduced their target price on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.75.

Lightspeed Commerce Trading Down 2.0 %

Shares of Lightspeed Commerce stock opened at $9.94 on Thursday. Lightspeed Commerce has a 1 year low of $9.74 and a 1 year high of $18.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The business has a 50 day moving average price of $12.74 and a 200 day moving average price of $14.77. The company has a market capitalization of $1.52 billion, a P/E ratio of -12.42, a P/E/G ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share 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%. Sell-side analysts anticipate that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Several large investors have recently made changes to their positions in the business. State Street Corp raised its position in Lightspeed Commerce by 29.1% in 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 period. PCJ Investment Counsel Ltd. lifted its position in Lightspeed Commerce by 33.8% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock worth $1,874,000 after acquiring an additional 31,060 shares in the last quarter. Verition Fund Management LLC purchased a new position in Lightspeed Commerce in the 3rd quarter worth approximately $499,000. NINE MASTS CAPITAL Ltd acquired a new stake in Lightspeed Commerce in the fourth quarter valued at approximately $579,000. Finally, PDT Partners LLC purchased a new stake in shares of Lightspeed Commerce during the third quarter valued at approximately $659,000. 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.