Lightspeed Commerce (NYSE:LSPD) Given New $16.00 Price Target at Benchmark

Lightspeed Commerce (NYSE:LSPD) had its price objective reduced by stock analysts at Benchmark from $21.00 to $16.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 76.31% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada dropped their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Bank of America began coverage on shares of Lightspeed Commerce in a report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target on the stock. Scotiabank cut their target price on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. Finally, Piper Sandler decreased their price objective on shares of Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lightspeed Commerce has an average rating of “Hold” and a consensus price target of $16.09.

Lightspeed Commerce Trading Down 3.1 %

LSPD opened at $9.08 on Thursday. The company has a market cap of $1.39 billion, a P/E 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 quick ratio of 5.99 and a current ratio of 6.10. Lightspeed Commerce has a one year low of $9.00 and a one year high of $18.96. The business’s 50-day simple moving average is $12.52 and its 200-day simple moving average is $14.71.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. As a group, equities research analysts expect that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of Lightspeed Commerce by 214.4% in the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after purchasing an additional 1,025 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Lightspeed Commerce by 27.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock worth $158,000 after buying an additional 2,168 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Lightspeed Commerce during the fourth quarter valued at approximately $165,000. Susquehanna Fundamental Investments LLC acquired a new position in Lightspeed Commerce during the 4th quarter worth $256,000. Finally, Twinbeech Capital LP acquired a new stake in Lightspeed Commerce in the 4th quarter valued at approximately $261,000. 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.