Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $10.00 by Analysts at Scotiabank

Lightspeed Commerce (NYSE:LSPD) had its price target dropped by stock analysts at Scotiabank from $12.00 to $10.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 16.89% from the company’s previous close.

LSPD has been the topic of a number of other research reports. UBS Group dropped their price objective on Lightspeed Commerce from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday. BMO Capital Markets decreased their target price on Lightspeed Commerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday. Bank of America started coverage on Lightspeed Commerce in a research note on Tuesday, May 19th. They issued an “underperform” rating and a $10.00 target price on the stock. Truist Financial decreased their target price on Lightspeed Commerce from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, February 11th. Finally, Morgan Stanley decreased their target price on Lightspeed Commerce from $13.50 to $11.50 and set an “equal weight” rating on the stock in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Lightspeed Commerce currently has an average rating of “Hold” and an average price target of $11.50.

Lightspeed Commerce Price Performance

LSPD traded down $0.01 during trading on Monday, reaching $8.56. 1,513,030 shares of the company were exchanged, compared to its average volume of 1,203,846. The company’s 50-day moving average is $9.06 and its two-hundred day moving average is $10.35. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -8.31, a P/E/G ratio of 1.88 and a beta of 1.92. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12-month low of $7.83 and a 12-month high of $14.34.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $290.80 million for the quarter, compared to analysts’ expectations of $282.87 million. Lightspeed Commerce had a positive return on equity of 0.32% and a negative net margin of 11.77%.Lightspeed Commerce’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts forecast that Lightspeed Commerce will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several institutional investors have recently modified their holdings of the company. Pale Fire Capital SE bought a new position in shares of Lightspeed Commerce during the 1st quarter valued at about $49,500,000. Artisan Partners Limited Partnership increased its position in shares of Lightspeed Commerce by 17.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,900,930 shares of the company’s stock valued at $47,066,000 after purchasing an additional 581,900 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Lightspeed Commerce by 28.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,752,669 shares of the company’s stock valued at $31,778,000 after purchasing an additional 613,369 shares during the last quarter. Royal Bank of Canada increased its position in shares of Lightspeed Commerce by 64.4% during the 1st quarter. Royal Bank of Canada now owns 2,226,453 shares of the company’s stock valued at $19,950,000 after purchasing an additional 872,131 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Lightspeed Commerce by 151.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company’s stock worth $18,803,000 after acquiring an additional 1,295,469 shares during the last quarter. 68.68% of the stock is currently owned by institutional investors.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.

The company’s product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.