Lightspeed Commerce (NYSE:LSPD) Shares Down 5.1% – Here’s Why

Lightspeed Commerce Inc. (NYSE:LSPD) traded down 5.1% during trading on Monday . The company traded as low as $13.47 and last traded at $13.70. 145,803 shares changed hands during trading, a decline of 63% from the average session volume of 391,335 shares. The stock had previously closed at $14.43.

Analysts Set New Price Targets

Several research firms have commented on LSPD. Wells Fargo & Company decreased their price target on shares of Lightspeed Commerce from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. Barclays downgraded Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $20.00 to $18.00 in a report on Friday, January 10th. JPMorgan Chase & Co. increased their target price on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Finally, Benchmark lifted their price target on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Nine 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 stock. Based on data from MarketBeat.com, Lightspeed Commerce currently has a consensus rating of “Hold” and a consensus price target of $19.50.

Lightspeed Commerce Stock Performance

The company’s 50-day moving average price is $15.90 and its 200 day moving average price is $15.00. The stock has a market capitalization of $2.11 billion, a PE ratio of -15.58 and a beta of 2.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. The business had revenue of $277.18 million during the quarter, compared to analyst estimates of $273.90 million. On average, equities research analysts expect that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alberta Investment Management Corp raised its stake in Lightspeed Commerce by 45.5% during the fourth quarter. Alberta Investment Management Corp now owns 150,300 shares of the company’s stock valued at $2,291,000 after buying an additional 47,000 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Lightspeed Commerce by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock worth $2,620,000 after purchasing an additional 679 shares in the last quarter. Blue Trust Inc. grew its position 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 during the last quarter. Addenda Capital Inc. grew its position in Lightspeed Commerce by 2.0% during the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock valued at $710,000 after purchasing an additional 931 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Lightspeed Commerce by 1.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 229,612 shares of the company’s stock worth $3,497,000 after buying an additional 2,231 shares during the last quarter. Hedge funds and other institutional investors 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.