Royal Bank of Canada Upgrades Lightspeed Commerce (NYSE:LSPD) to Moderate Buy

Lightspeed Commerce (NYSE:LSPD) was upgraded by equities researchers at Royal Bank of Canada from a “strong sell” rating to a “moderate buy” rating in a research note issued on Friday,Zacks.com reports.

A number of other brokerages have also issued reports on LSPD. Jefferies Financial Group decreased their target price on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday. Wells Fargo & Company dropped their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, July 31st. Piper Sandler upped their price objective on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Benchmark boosted their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.88.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD opened at $17.75 on Friday. The company has a market capitalization of $2.69 billion, a PE ratio of -19.94, a price-to-earnings-growth ratio of 10.75 and a beta of 2.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.06 and a current ratio of 6.19. The company’s fifty day moving average price is $14.92 and its 200 day moving average price is $14.13. Lightspeed Commerce has a 1 year low of $11.01 and a 1 year high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last posted its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $277.18 million for the quarter, compared to analysts’ expectations of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. On average, research analysts predict that Lightspeed Commerce will post 0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank boosted its stake in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after buying an additional 3,482 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Lightspeed Commerce during the 2nd quarter worth about $181,000. Aigen Investment Management LP purchased a new stake in Lightspeed Commerce during the third quarter worth approximately $225,000. Addenda Capital Inc. boosted its holdings in Lightspeed Commerce by 10.5% in the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock valued at $603,000 after purchasing an additional 4,196 shares in the last quarter. Finally, Boulder Hill Capital Management LP purchased a new position in Lightspeed Commerce in the first quarter valued at approximately $811,000. Institutional investors and hedge funds 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.