Lightspeed Commerce (NYSE:LSPD) Shares Down 6.3% – Time to Sell?

Lightspeed Commerce Inc. (NYSE:LSPD)’s stock price was down 6.3% on Monday . The stock traded as low as $17.55 and last traded at $17.61. Approximately 432,827 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 1,094,602 shares. The stock had previously closed at $18.80.

Analysts Set New Price Targets

Several research analysts have commented on LSPD shares. Benchmark upped their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. TD Securities lifted their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, November 8th. BTIG Research restated a “buy” rating and set a $21.00 price objective on shares of Lightspeed Commerce in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.88.

Lightspeed Commerce Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. The stock has a market cap of $2.64 billion, a PE ratio of -19.52 and a beta of 2.40. The stock has a 50 day moving average of $16.50 and a two-hundred day moving average of $14.62.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. The business had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. Equities analysts anticipate that Lightspeed Commerce Inc. will post -0.02 EPS for the current year.

Institutional Trading of Lightspeed Commerce

Hedge funds and other institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. lifted its stake in Lightspeed Commerce by 345,464.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock worth $5,535,000 after acquiring an additional 404,193 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Lightspeed Commerce in the 2nd quarter valued at about $956,000. Intact Investment Management Inc. lifted its position in shares of Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after purchasing an additional 869,090 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings 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 purchasing an additional 766,688 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in Lightspeed Commerce by 297.6% during the second quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company’s stock valued at $1,236,000 after purchasing an additional 67,584 shares in the last quarter. 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.