Lightspeed Commerce (NASDAQ:LSPD) Stock Price Down 7.7%

Lightspeed Commerce Inc. (NASDAQ:LSPD – Get Rating) shares were down 7.7% on Thursday . The stock traded as low as $22.14 and last traded at $22.59. Approximately 113,781 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,194,032 shares. The stock had previously closed at $24.48.

Analyst Upgrades and Downgrades

LSPD has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Lightspeed Commerce from $32.00 to $24.00 in a research report on Friday, May 20th. Piper Sandler lowered their price target on shares of Lightspeed Commerce from $40.00 to $32.00 and set an “overweight” rating on the stock in a research report on Friday. TD Securities reiterated a “buy” rating and set a $35.00 price objective (down from $40.00) on shares of Lightspeed Commerce in a research note on Friday. Raymond James raised their price target on shares of Lightspeed Commerce from C$40.00 to C$43.00 in a research note on Friday, May 20th. Finally, Royal Bank of Canada reduced their price target on shares of Lightspeed Commerce from $50.00 to $40.00 in a research note on Monday, May 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Lightspeed Commerce Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 6.60 and a quick ratio of 6.56. The firm has a 50-day simple moving average of $22.23 and a 200-day simple moving average of $24.73.

Lightspeed Commerce (NASDAQ:LSPD – Get Rating) last released its earnings results on Thursday, May 19th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.17). The company had revenue of $146.56 million for the quarter, compared to the consensus estimate of $140.97 million. Lightspeed Commerce had a negative net margin of 56.06% and a negative return on equity of 5.65%. As a group, equities analysts anticipate that Lightspeed Commerce Inc. will post -1.43 EPS for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

A number of hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp grew its position in Lightspeed Commerce by 113.1% during the 1st quarter. Fifth Third Bancorp now owns 15,210 shares of the company’s stock worth $463,000 after purchasing an additional 8,073 shares during the period. Clear Creek Financial Management LLC grew its holdings in Lightspeed Commerce by 7.0% in the 1st quarter. Clear Creek Financial Management LLC now owns 9,657 shares of the company’s stock valued at $294,000 after buying an additional 633 shares in the last quarter. TD Asset Management Inc. grew its holdings in Lightspeed Commerce by 6.6% in the 4th quarter. TD Asset Management Inc. now owns 559,799 shares of the company’s stock valued at $22,637,000 after buying an additional 34,443 shares in the last quarter. Granite Investment Partners LLC grew its holdings in Lightspeed Commerce by 12.0% in the 4th quarter. Granite Investment Partners LLC now owns 62,231 shares of the company’s stock valued at $2,516,000 after buying an additional 6,650 shares in the last quarter. Finally, Greycroft LP purchased a new position in shares of Lightspeed Commerce during the 4th quarter worth $2,592,000. 66.77% of the stock is currently owned by hedge funds and other institutional investors.

Lightspeed Commerce Company Profile

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Lightspeed Commerce Inc provides commerce enabling Software as a Service (SaaS) platform for small and midsize businesses, retailers, restaurants, and golf course operators in Canada, the United States, Australia, the Netherlands, and internationally. Its SaaS platform enables customers to engage with consumers, manage operations, accept payments, etc.