Morgan Stanley Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $14.00

Lightspeed Commerce (NYSE:LSPD) had its price objective trimmed by Morgan Stanley from $17.00 to $14.00 in a report issued on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other analysts have also recently commented on the stock. Bank of America decreased their price objective on shares of Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday. Atb Cap Markets downgraded shares of Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Benchmark lowered their price target on shares of Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group reduced their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research note on Friday, February 7th. Finally, Wells Fargo & Company lowered their target price on Lightspeed Commerce from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lightspeed Commerce currently has an average rating of “Hold” and an average price target of $16.09.

Lightspeed Commerce Price Performance

Shares of LSPD opened at $9.08 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The company’s fifty day moving average price is $12.52 and its 200-day moving average price is $14.74. Lightspeed Commerce has a 1-year low of $9.00 and a 1-year high of $18.96. The firm has a market capitalization of $1.39 billion, a PE ratio of -11.34, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results 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 negative net margin of 11.75% and a positive return on equity of 0.61%. On average, equities research analysts predict that Lightspeed Commerce will post 0.08 EPS for the current year.

Institutional Trading of Lightspeed Commerce

Several institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Lightspeed Commerce by 29.1% during the 3rd quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after purchasing an additional 79,696 shares during the last quarter. PCJ Investment Counsel Ltd. raised its holdings in shares of Lightspeed Commerce by 33.8% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock valued at $1,874,000 after acquiring an additional 31,060 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Lightspeed Commerce during the third quarter valued at approximately $499,000. NINE MASTS CAPITAL Ltd purchased a new position in shares of Lightspeed Commerce in the fourth quarter valued at approximately $579,000. Finally, PDT Partners LLC acquired a new stake in shares of Lightspeed Commerce in the third quarter worth approximately $659,000. 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.