Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $16.00

Lightspeed Commerce (NYSE:LSPD) had its price target decreased by Wells Fargo & Company from $17.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 9.50% from the company’s current price.

A number of other brokerages also recently weighed in on LSPD. Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Barclays cut shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $20.00 to $18.00 in a report on Friday, January 10th. Benchmark lifted their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 8th. Piper Sandler increased their price objective on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, TD Securities lifted their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.50.

Lightspeed Commerce Trading Down 2.2 %

NYSE LSPD opened at $14.61 on Thursday. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -16.42 and a beta of 2.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $20.09. The company’s fifty day moving average price is $16.58 and its two-hundred day moving average price is $14.92.

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

Institutional Investors Weigh In On Lightspeed Commerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LSPD. Intact Investment Management Inc. grew its stake in shares of Lightspeed Commerce by 10,117.5% in the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after purchasing an additional 869,090 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Lightspeed Commerce by 30.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after buying an additional 766,688 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Lightspeed Commerce by 306.5% in the second quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock valued at $11,051,000 after buying an additional 608,661 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Lightspeed Commerce by 345,464.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock valued at $5,535,000 after acquiring an additional 404,193 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lightspeed Commerce by 226.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after acquiring an additional 256,900 shares in the last quarter. 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.