Lightspeed Commerce (NYSE:LSPD) Coverage Initiated by Analysts at Bank of America

Bank of America began coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $20.00 price target on the stock.

LSPD has been the subject of a number of other reports. UBS Group cut their target price on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research note on Friday, February 7th. Wells Fargo & Company cut their target price on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Scotiabank cut their target price on Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Friday, February 7th. TD Securities upped their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.39.

Lightspeed Commerce Stock Down 0.5 %

LSPD opened at $13.66 on Wednesday. Lightspeed Commerce has a 1-year low of $11.01 and a 1-year high of $18.96. 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 stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -17.07, a P/E/G ratio of 3.06 and a beta of 2.42. The business has a 50 day moving average of $14.83 and a 200-day moving average of $15.01.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts anticipate that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Institutional Trading of Lightspeed Commerce

Large investors have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Lightspeed Commerce by 29.1% during the third quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after purchasing an additional 79,696 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after acquiring an additional 869,090 shares during the last quarter. Verition Fund Management LLC bought a new position in Lightspeed Commerce in the third quarter valued at about $499,000. Westfield Capital Management Co. LP boosted its holdings in Lightspeed Commerce by 30.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after acquiring an additional 766,688 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Lightspeed Commerce by 226.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock valued at $6,108,000 after acquiring an additional 256,900 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.

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.