Piper Sandler Trims Lightspeed Commerce (NYSE:LSPD) Target Price to $15.00

Lightspeed Commerce (NYSE:LSPD) had its price target reduced by Piper Sandler from $17.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on LSPD. UBS Group boosted their target price on Lightspeed Commerce from $17.00 to $18.00 and gave the stock a neutral rating in a research report on Tuesday, May 21st. Royal Bank of Canada reissued an outperform rating and issued a $21.00 target price on shares of Lightspeed Commerce in a research report on Wednesday, May 29th. JPMorgan Chase & Co. cut their price target on shares of Lightspeed Commerce from $17.00 to $16.00 and set a neutral rating on the stock in a report on Friday, May 17th. Bank of America increased their price objective on Lightspeed Commerce from $19.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, May 17th. Finally, National Bankshares lifted their target price on Lightspeed Commerce from $15.00 to $16.00 and gave the company a sector perform rating in a research note on Friday, May 17th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $18.28.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD traded up $0.51 during mid-day trading on Friday, hitting $12.35. The company had a trading volume of 939,358 shares, compared to its average volume of 1,214,452. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $21.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.34 and a quick ratio of 6.23. The firm’s 50 day simple moving average is $13.93 and its two-hundred day simple moving average is $14.30. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -11.07 and a beta of 2.33.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, August 1st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $266.10 million during the quarter, compared to analysts’ expectations of $258.58 million. Lightspeed Commerce had a negative return on equity of 0.98% and a negative net margin of 15.55%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. As a group, equities research analysts forecast that Lightspeed Commerce will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in Lightspeed Commerce during the 4th quarter worth $2,819,000. Vanguard Group Inc. raised its position in shares of Lightspeed Commerce by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,938,501 shares of the company’s stock valued at $69,287,000 after acquiring an additional 72,890 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Lightspeed Commerce in the 4th quarter valued at $1,229,000. Artisan Partners Limited Partnership increased its position in shares of Lightspeed Commerce by 13.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,297,686 shares of the company’s stock worth $111,232,000 after acquiring an additional 627,796 shares in the last quarter. Finally, Norges Bank acquired a new position in Lightspeed Commerce during the fourth quarter worth $25,993,000. 68.68% of the stock is owned by institutional investors.

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.