Wishbone Management LP Has $33.82 Million Stock Position in Lightspeed Commerce Inc. $LSPD

Wishbone Management LP decreased its holdings in Lightspeed Commerce Inc. (NYSE:LSPD) by 31.7% in the fourth quarter, Holdings Channel reports. The fund owned 2,800,000 shares of the company’s stock after selling 1,298,304 shares during the quarter. Lightspeed Commerce makes up 14.4% of Wishbone Management LP’s holdings, making the stock its 5th biggest holding. Wishbone Management LP’s holdings in Lightspeed Commerce were worth $33,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LSPD. Plato Investment Management Ltd raised its position in Lightspeed Commerce by 880.0% in the 4th quarter. Plato Investment Management Ltd now owns 5,292 shares of the company’s stock worth $64,000 after purchasing an additional 4,752 shares during the period. Headlands Technologies LLC purchased a new stake in Lightspeed Commerce in the 2nd quarter worth about $92,000. Russell Investments Group Ltd. raised its position in Lightspeed Commerce by 106.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company’s stock worth $122,000 after purchasing an additional 5,354 shares during the period. Brooklyn Investment Group purchased a new stake in Lightspeed Commerce in the 4th quarter worth about $132,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Lightspeed Commerce by 15.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 16,902 shares of the company’s stock worth $198,000 after purchasing an additional 2,314 shares during the period. 68.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LSPD has been the topic of a number of recent analyst reports. BTIG Research reduced their price objective on shares of Lightspeed Commerce from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Royal Bank Of Canada reduced their price objective on shares of Lightspeed Commerce from $13.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. National Bank Financial reduced their price objective on shares of Lightspeed Commerce from $15.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 27th. Bank of America initiated coverage on shares of Lightspeed Commerce in a research report on Tuesday, May 19th. They issued an “underperform” rating and a $10.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on shares of Lightspeed Commerce from $13.50 to $11.50 and set an “equal weight” rating on the stock in a research report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Lightspeed Commerce presently has a consensus rating of “Hold” and a consensus price target of $11.27.

Lightspeed Commerce Stock Performance

Shares of NYSE:LSPD opened at $9.64 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of -9.35, a price-to-earnings-growth ratio of 1.83 and a beta of 1.92. The firm’s 50 day simple moving average is $9.21 and its 200-day simple moving average is $10.08. Lightspeed Commerce Inc. has a one year low of $7.83 and a one year high of $14.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.18 and a current ratio of 4.28.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, May 21st. The company reported $0.08 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%.The firm’s revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts predict that Lightspeed Commerce Inc. will post 0.3 EPS for the current year.

Lightspeed Commerce 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.