Lightspeed Commerce (NYSE:LSPD) Shares Gap Down Following Analyst Downgrade

Lightspeed Commerce Inc. (NYSE:LSPD) shares gapped down before the market opened on Thursday after Benchmark lowered their price target on the stock from $21.00 to $16.00. The stock had previously closed at $9.94, but opened at $9.54. Benchmark currently has a buy rating on the stock. Lightspeed Commerce shares last traded at $9.55, with a volume of 166,158 shares trading hands.

LSPD has been the topic of several other reports. Scotiabank lowered their price target on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. Royal Bank of Canada dropped their price target on shares of Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday. UBS Group reduced their price objective on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research report on Friday, February 7th. Bank of America started coverage on shares of Lightspeed Commerce in a research note on Wednesday, February 19th. They set a “buy” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.39.

Institutional Investors Weigh In On Lightspeed Commerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. Algert Global LLC bought a new position in Lightspeed Commerce during the third quarter worth $448,000. FMR LLC boosted its position in shares of Lightspeed Commerce by 7.1% during the 3rd quarter. FMR LLC now owns 58,971 shares of the company’s stock valued at $972,000 after acquiring an additional 3,900 shares in the last quarter. Verition Fund Management LLC acquired a new position in Lightspeed Commerce in the third quarter worth about $499,000. PDT Partners LLC acquired a new stake in Lightspeed Commerce during the third quarter valued at approximately $659,000. Finally, Azora Capital LP grew its stake in shares of Lightspeed Commerce by 3.4% in the 3rd quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock valued at $23,735,000 after purchasing an additional 47,359 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.

Lightspeed Commerce Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. The firm has a market cap of $1.46 billion, a P/E ratio of -11.91, a P/E/G ratio of 3.03 and a beta of 2.44. The company has a 50-day moving average of $12.74 and a 200 day moving average of $14.77.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. On average, sell-side analysts anticipate that Lightspeed Commerce Inc. will post 0.08 EPS for the current year.

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.