Northwest & Ethical Investments L.P. Trims Stake in Lightspeed Commerce Inc. (NYSE:LSPD)

Northwest & Ethical Investments L.P. reduced its position in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 25.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 42,183 shares of the company’s stock after selling 14,346 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Lightspeed Commerce were worth $696,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LSPD. 1832 Asset Management L.P. grew its stake in Lightspeed Commerce by 345,464.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock worth $5,535,000 after buying an additional 404,193 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Lightspeed Commerce in the 2nd quarter worth about $956,000. Intact Investment Management Inc. raised its holdings in Lightspeed Commerce by 10,117.5% in the 3rd 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 during the period. Westfield Capital Management Co. LP raised its holdings in Lightspeed Commerce by 30.0% in the 3rd 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. raised its holdings in Lightspeed Commerce by 297.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company’s stock worth $1,236,000 after purchasing an additional 67,584 shares during the period. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on LSPD. Benchmark boosted their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BMO Capital Markets upped their price target on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Jefferies Financial Group lowered their price target on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, Piper Sandler lifted their price objective on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lightspeed Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $19.88.

Lightspeed Commerce Stock Up 0.2 %

Shares of NYSE LSPD opened at $18.80 on Friday. The firm’s 50 day moving average price is $16.37 and its 200 day moving average price is $14.58. Lightspeed Commerce Inc. has a 1 year low of $11.01 and a 1 year high of $21.71. The firm has a market cap of $2.86 billion, a P/E ratio of -21.12 and a beta of 2.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share 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 firm had revenue of $277.18 million for the quarter, compared to analysts’ expectations of $273.90 million. As a group, sell-side analysts anticipate that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current year.

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.