Barclays Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $13.00

Lightspeed Commerce (NYSE:LSPD) had its target price lowered by Barclays from $15.00 to $13.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also issued reports on the company. Bank of America lowered their price target on Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank dropped their price target on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, March 25th. Atb Cap Markets downgraded Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 26th. Royal Bank of Canada cut 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. Finally, BMO Capital Markets lowered their price target on shares of Lightspeed Commerce from $15.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.09.

Lightspeed Commerce Price Performance

LSPD opened at $9.08 on Friday. The business has a fifty day moving average of $12.52 and a 200 day moving average of $14.74. The stock 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 quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 52-week low of $9.00 and a 52-week high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly 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 positive return on equity of 0.61% and a negative net margin of 11.75%. As a group, sell-side analysts anticipate that Lightspeed Commerce will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its position in shares of Lightspeed Commerce by 37,065.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company’s stock valued at $63,688,000 after purchasing an additional 4,170,557 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Lightspeed Commerce in the fourth quarter worth $24,334,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Lightspeed Commerce by 266.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company’s stock worth $20,660,000 after buying an additional 986,100 shares during the period. Intact Investment Management Inc. grew its holdings in shares of Lightspeed Commerce by 94.5% during the fourth quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock valued at $26,031,000 after buying an additional 829,577 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Lightspeed Commerce by 304.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 397,752 shares of the company’s stock valued at $6,061,000 after acquiring an additional 299,482 shares during the period. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

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.