Lightspeed Commerce (NYSE:LSPD) Stock Price Down 13.1% – What’s Next?

Lightspeed Commerce Inc. (NYSE:LSPD) traded down 13.1% on Thursday . The stock traded as low as $9.38 and last traded at $9.57. 248,740 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,029,761 shares. The stock had previously closed at $11.01.

Analysts Set New Price Targets

LSPD has been the subject of a number of research reports. Barclays dropped their price objective on shares of Lightspeed Commerce from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. UBS Group dropped their price target on shares of Lightspeed Commerce from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lightspeed Commerce in a research report on Friday, July 17th. Morgan Stanley lowered their target price on Lightspeed Commerce from $13.50 to $11.50 and set an “equal weight” rating for the company in a research note on Friday, May 22nd. Finally, BMO Capital Markets cut their price target on Lightspeed Commerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, May 25th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.27.

Lightspeed Commerce Trading Down 13.7%

The company has a market cap of $1.31 billion, a price-to-earnings ratio of -9.23, a PEG ratio of 1.88 and a beta of 1.88. The company has a quick ratio of 4.18, a current ratio of 4.28 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $9.83 and its two-hundred day simple moving average is $9.67.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results 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). Lightspeed Commerce had a positive return on equity of 0.32% and a negative net margin of 11.77%.The company had revenue of $290.80 million for the quarter, compared to analysts’ expectations of $282.87 million. Lightspeed Commerce’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts predict that Lightspeed Commerce Inc. will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Several institutional investors and hedge funds have recently modified their holdings of LSPD. Goldman Sachs Group Inc. grew its stake in Lightspeed Commerce by 151.8% in 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 period. Geode Capital Management LLC grew its position in shares of Lightspeed Commerce by 8.1% in the second quarter. Geode Capital Management LLC now owns 78,301 shares of the company’s stock valued at $922,000 after purchasing an additional 5,834 shares during the period. Russell Investments Group Ltd. increased its stake in Lightspeed Commerce by 106.4% in the second quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company’s stock valued at $122,000 after purchasing an additional 5,354 shares during the last quarter. Norges Bank purchased a new position in Lightspeed Commerce during the second quarter worth about $743,000. Finally, Invesco Ltd. boosted its stake in Lightspeed Commerce by 2.9% in the 2nd quarter. Invesco Ltd. now owns 29,567 shares of the company’s stock worth $346,000 after buying an additional 835 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

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.