Lightspeed Commerce (NYSE:LSPD) Shares Gap Up to $12.85

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) gapped up before the market opened on Tuesday . The stock had previously closed at $12.85, but opened at $13.34. Lightspeed Commerce shares last traded at $13.23, with a volume of 120,023 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LSPD shares. Benchmark assumed coverage on shares of Lightspeed Commerce in a report on Tuesday. They set a “buy” rating and a $20.00 price target for the company. TD Securities decreased their price objective on shares of Lightspeed Commerce from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Cibc World Mkts upgraded Lightspeed Commerce from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. Piper Sandler dropped their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lowered Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.65.

Lightspeed Commerce Stock Up 2.0 %

The business has a fifty day moving average price of $13.04 and a two-hundred day moving average price of $13.60. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -12.34, a P/E/G ratio of 62.94 and a beta of 2.32. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, August 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Lightspeed Commerce had a negative return on equity of 0.99% and a negative net margin of 15.55%. The business had revenue of $266.10 million during the quarter, compared to analysts’ expectations of $258.58 million. During the same period in the prior year, the firm posted ($0.14) EPS. Lightspeed Commerce’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, equities analysts predict that Lightspeed Commerce Inc. will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. purchased a new position in Lightspeed Commerce in the 1st quarter worth approximately $35,000. Toronto Dominion Bank increased its holdings in shares of Lightspeed Commerce by 102.8% during the second quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after acquiring an additional 3,482 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new position in Lightspeed Commerce in the 1st quarter worth about $141,000. Headlands Technologies LLC bought a new position in Lightspeed Commerce in the second quarter worth approximately $181,000. Finally, Duality Advisers LP increased its stake in Lightspeed Commerce by 160.8% in the 1st quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock worth $483,000 after buying an additional 21,172 shares in the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

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.