Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 11.2% during the 1st quarter, Holdings Channel reports. The fund owned 11,197 shares of the company’s stock after purchasing an additional 1,124 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lightspeed Commerce were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LSPD. Ameriprise Financial Inc. purchased a new stake in shares of Lightspeed Commerce during the 4th quarter worth approximately $24,334,000. D. E. Shaw & Co. Inc. boosted its holdings 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 worth $6,061,000 after purchasing an additional 299,482 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Lightspeed Commerce by 156.9% in the 4th quarter. Mackenzie Financial Corp now owns 360,221 shares of the company’s stock worth $5,487,000 after purchasing an additional 220,000 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Lightspeed Commerce by 99.2% in the 4th quarter. Point72 Asset Management L.P. now owns 422,900 shares of the company’s stock worth $6,441,000 after purchasing an additional 210,630 shares during the period. Finally, Louisbourg Investments Inc. boosted its holdings in shares of Lightspeed Commerce by 36.2% in the 1st quarter. Louisbourg Investments Inc. now owns 684,509 shares of the company’s stock worth $5,995,000 after purchasing an additional 181,891 shares during the period. 68.68% of the stock is owned by hedge funds and other institutional investors.

Lightspeed Commerce Stock Down 1.4%

Shares of NYSE LSPD opened at $12.19 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.60. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -2.71, a PEG ratio of 8.37 and a beta of 2.48. The stock has a 50 day moving average price of $12.05 and a 200 day moving average price of $11.32. Lightspeed Commerce Inc. has a 52-week low of $7.34 and a 52-week high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.05). The firm had revenue of $304.94 million during the quarter, compared to analysts’ expectations of $287.28 million. Lightspeed Commerce had a negative net margin of 61.11% and a positive return on equity of 0.33%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Sell-side analysts expect that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LSPD. Stifel Nicolaus lifted their target price on Lightspeed Commerce from $12.00 to $14.00 and gave the stock a “hold” rating in a report on Friday, August 1st. National Bankshares lifted their target price on Lightspeed Commerce from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Barclays lifted their target price on Lightspeed Commerce from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Scotiabank lifted their target price on Lightspeed Commerce from $10.00 to $12.00 and gave the stock a “sector perform” rating in a report on Monday, July 28th. Finally, Truist Financial lifted their target price on Lightspeed Commerce from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.74.

Lightspeed Commerce 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.