Bank of America Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $18.00

Lightspeed Commerce (NYSE:LSPD) had its price target trimmed by Bank of America from $20.00 to $18.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

LSPD has been the subject of several other research reports. Benchmark cut their target price on Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday. Scotiabank reduced 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 report on Tuesday, March 25th. Royal Bank of Canada decreased 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, March 25th. Piper Sandler cut their price target 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. Finally, Barclays decreased their price objective on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.09.

Lightspeed Commerce Price Performance

Shares of NYSE:LSPD opened at $9.08 on Thursday. The company’s fifty day moving average price is $12.52 and its 200-day moving average price is $14.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The firm 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. Lightspeed Commerce has a one year low of $9.00 and a one year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last released 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%. On average, equities research analysts anticipate that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors have recently added to or reduced their stakes in LSPD. State Street Corp grew its position in shares of Lightspeed Commerce by 29.1% in the 3rd quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after buying an additional 79,696 shares during the period. PCJ Investment Counsel Ltd. increased its stake in shares of Lightspeed Commerce by 33.8% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock valued at $1,874,000 after purchasing an additional 31,060 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Lightspeed Commerce during the third quarter valued at approximately $499,000. NINE MASTS CAPITAL Ltd bought a new stake in shares of Lightspeed Commerce in the 4th quarter worth approximately $579,000. Finally, PDT Partners LLC purchased a new stake in shares of Lightspeed Commerce in the 3rd quarter worth approximately $659,000. Institutional investors own 68.68% of the company’s stock.

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.