Wells Fargo & Company Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its target price trimmed by Wells Fargo & Company from $13.00 to $11.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

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

Lightspeed Commerce Price Performance

Shares of NYSE:LSPD opened at $9.08 on Friday. The business’s 50 day moving average is $12.52 and its 200-day moving average is $14.74. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.39 billion, a PE ratio of -11.34, a PEG ratio of 3.03 and a beta of 2.44. Lightspeed Commerce has a 1-year low of $9.00 and a 1-year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 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%. Sell-side analysts predict that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Algert Global LLC acquired a new stake in Lightspeed Commerce during the 3rd quarter valued at $448,000. FMR LLC raised its position in shares of Lightspeed Commerce by 7.1% in the third quarter. FMR LLC now owns 58,971 shares of the company’s stock valued at $972,000 after purchasing an additional 3,900 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Lightspeed Commerce during the 3rd quarter worth about $499,000. PDT Partners LLC bought a new stake in shares of Lightspeed Commerce during the 3rd quarter worth about $659,000. Finally, Azora Capital LP grew its stake in Lightspeed Commerce by 3.4% in the 3rd quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock valued at $23,735,000 after buying an additional 47,359 shares during the last quarter. 68.68% of the stock is currently owned by 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.