Lightspeed Commerce (NYSE:LSPD) Downgraded by Atb Cap Markets to Hold

Atb Cap Markets downgraded shares of Lightspeed Commerce (NYSE:LSPD) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. UBS Group reduced their target price on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a report on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday. Piper Sandler decreased their price objective on shares of Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday. Scotiabank lowered their target price on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a report on Tuesday. Finally, Bank of America cut their target price on shares of Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. Eleven 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.09.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock opened at $9.08 on Wednesday. The firm’s fifty day simple moving average is $12.52 and its 200-day simple moving average is $14.71. Lightspeed Commerce has a 12 month low of $9.00 and a 12 month high of $18.96. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -11.34, a PEG ratio of 3.03 and a beta of 2.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities analysts forecast that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Hedge funds have recently made changes to their positions in the stock. Algert Global LLC acquired a new position in Lightspeed Commerce in the third quarter valued at $448,000. FMR LLC raised its holdings in shares of Lightspeed Commerce by 7.1% in the 3rd quarter. FMR LLC now owns 58,971 shares of the company’s stock worth $972,000 after purchasing an additional 3,900 shares during the period. Verition Fund Management LLC acquired a new position in shares of Lightspeed Commerce in the 3rd quarter valued at about $499,000. PDT Partners LLC acquired a new position in shares of Lightspeed Commerce in the 3rd quarter valued at about $659,000. Finally, Azora Capital LP grew its holdings in shares of Lightspeed Commerce by 3.4% during the 3rd quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock worth $23,735,000 after purchasing an additional 47,359 shares during the period. 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.