Lightspeed Commerce (NYSE:LSPD) Downgraded by Barclays to “Equal Weight”

Barclays lowered shares of Lightspeed Commerce (NYSE:LSPD) from an overweight rating to an equal weight rating in a research note published on Friday morning, Marketbeat.com reports. They currently have $18.00 target price on the stock, down from their previous target price of $20.00.

A number of other research analysts also recently issued reports on the stock. TD Securities boosted their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. Benchmark increased their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BTIG Research reaffirmed a “buy” rating and set a $21.00 price objective on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their target price on 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, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.93.

Lightspeed Commerce Stock Performance

Lightspeed Commerce stock opened at $14.80 on Friday. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.25 billion, a P/E ratio of -16.63 and a beta of 2.44. Lightspeed Commerce has a 1-year low of $11.01 and a 1-year high of $20.09. The firm has a 50-day moving average of $16.66 and a 200-day moving average of $14.89.

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

Hedge Funds Weigh In On Lightspeed Commerce

Several large investors have recently modified their holdings of LSPD. Toronto Dominion Bank increased its stake in Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after purchasing an additional 3,482 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Lightspeed Commerce during the second quarter valued at approximately $181,000. Aigen Investment Management LP bought a new stake in shares of Lightspeed Commerce during the third quarter valued at approximately $225,000. Polar Asset Management Partners Inc. purchased a new position in Lightspeed Commerce in the 3rd quarter worth approximately $412,000. Finally, Algert Global LLC purchased a new position in Lightspeed Commerce in the 3rd quarter worth approximately $448,000. 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.