Royal Bank of Canada Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $15.00

Lightspeed Commerce (NYSE:LSPD) had its price target reduced by Royal Bank of Canada from $20.00 to $15.00 in a research note published on Tuesday, Marketbeat Ratings reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Scotiabank cut their target price on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Bank of America assumed coverage on shares of Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target on the stock. Piper Sandler lowered their price objective on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, Barclays reduced their target price on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Eight research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Lightspeed Commerce Price Performance

NYSE:LSPD opened at $9.37 on Tuesday. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 52 week low of $9.25 and a 52 week high of $18.96. The stock’s 50-day moving average price is $12.63 and its 200-day moving average price is $14.73. The stock has a market capitalization of $1.43 billion, a PE ratio of -11.71, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.03 EPS 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%. As a group, equities analysts expect that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Algert Global LLC purchased a new stake in Lightspeed Commerce in the third quarter valued at $448,000. FMR LLC grew its holdings in shares of Lightspeed Commerce by 7.1% during the 3rd quarter. FMR LLC now owns 58,971 shares of the company’s stock worth $972,000 after purchasing an additional 3,900 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Lightspeed Commerce during the 3rd quarter worth about $499,000. PDT Partners LLC purchased a new stake in Lightspeed Commerce in the 3rd quarter valued at about $659,000. Finally, Azora Capital LP lifted its position in Lightspeed Commerce by 3.4% in the third quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock valued at $23,735,000 after buying an additional 47,359 shares during the last quarter. 68.68% of the stock is currently 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.