Scotiabank Lowers Lightspeed Commerce (NYSE:LSPD) Price Target to $19.00

Lightspeed Commerce (NYSE:LSPD) had its target price decreased by Scotiabank from $21.00 to $19.00 in a research report released on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Other analysts also recently issued reports about the company. TD Securities raised their price objective on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Piper Sandler dropped their price target on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Barclays cut shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $20.00 to $18.00 in a research report on Friday, January 10th. Finally, Benchmark boosted their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lightspeed Commerce currently has an average rating of “Hold” and a consensus price target of $18.39.

Lightspeed Commerce Stock Performance

NYSE:LSPD opened at $13.14 on Friday. The company’s 50-day moving average is $15.42 and its two-hundred day moving average is $14.99. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -16.43 and a beta of 2.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. Lightspeed Commerce has a 1-year low of $11.01 and a 1-year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.60%. Analysts forecast that Lightspeed Commerce will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

Several large investors have recently bought and sold shares of the stock. Westfield Capital Management Co. LP grew its position in shares of Lightspeed Commerce by 30.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after buying an additional 766,688 shares in the last quarter. Azora Capital LP grew its stake in shares of Lightspeed Commerce by 3.4% during the third quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock worth $23,735,000 after purchasing an additional 47,359 shares in the last quarter. National Bank of Canada FI increased its holdings in Lightspeed Commerce by 1.4% in the third quarter. National Bank of Canada FI now owns 1,161,144 shares of the company’s stock valued at $19,146,000 after buying an additional 16,267 shares during the last quarter. Intact Investment Management Inc. raised its stake 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 buying an additional 869,090 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Lightspeed Commerce by 226.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after buying an additional 256,900 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

About Lightspeed Commerce

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.