Lightspeed Commerce (NYSE:LSPD) Stock Rating Lowered by Scotiabank

Lightspeed Commerce (NYSE:LSPD) was downgraded by analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They presently have a $11.00 target price on the stock, down from their previous target price of $17.00. Scotiabank’s target price would suggest a potential upside of 9.78% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Wells Fargo & Company cut their price target on shares of Lightspeed Commerce from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. National Bankshares cut their target price on Lightspeed Commerce from $15.00 to $13.10 and set a “sector perform” rating for the company in a research report on Friday, April 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, March 27th. Barclays cut their price objective on Lightspeed Commerce from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Finally, Benchmark lowered their target price on shares of Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.29.

Lightspeed Commerce Price Performance

Shares of LSPD stock opened at $10.02 on Monday. Lightspeed Commerce has a 12 month low of $7.34 and a 12 month high of $18.96. The company has a market capitalization of $1.53 billion, a P/E ratio of -12.52, a P/E/G ratio of 3.03 and a beta of 2.52. The stock has a 50 day moving average of $10.18 and a two-hundred day moving average of $13.76. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share 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, equities analysts expect that Lightspeed Commerce will post 0.08 EPS for the current year.

Institutional Trading of Lightspeed Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Lightspeed Commerce by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,333,306 shares of the company’s stock worth $81,319,000 after buying an additional 70,324 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Lightspeed Commerce by 37,065.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company’s stock worth $63,688,000 after acquiring an additional 4,170,557 shares during the period. Nuveen Asset Management LLC raised its position in shares of Lightspeed Commerce by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 3,149,919 shares of the company’s stock valued at $48,009,000 after acquiring an additional 24,891 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Lightspeed Commerce by 1.1% in the 4th quarter. Bank of Montreal Can now owns 2,022,590 shares of the company’s stock valued at $30,803,000 after purchasing an additional 21,357 shares during the period. Finally, Intact Investment Management Inc. boosted its position in shares of Lightspeed Commerce by 94.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock worth $26,031,000 after purchasing an additional 829,577 shares during the last quarter. 68.68% of the stock is 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.