Lightspeed Commerce Inc. (NYSE:LSPD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Lightspeed Commerce Inc. (NYSE:LSPD) has received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.07.

Several brokerages have recently issued reports on LSPD. BTIG Research reissued a “buy” rating and set a $21.00 price target on shares of Lightspeed Commerce in a report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price objective on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Benchmark raised their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company 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 research note on Friday, November 8th. Finally, TD Securities lifted their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, November 8th.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD opened at $16.23 on Friday. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $16.60 and its two-hundred day moving average price is $14.74. Lightspeed Commerce has a 52-week low of $11.01 and a 52-week high of $21.71. The stock has a market capitalization of $2.47 billion, a P/E ratio of -18.24 and a beta of 2.40.

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

Institutional Investors Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently modified their holdings of LSPD. Intact Investment Management Inc. lifted its stake in Lightspeed Commerce by 10,117.5% during the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after buying an additional 869,090 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Lightspeed Commerce by 30.0% during 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 in the last quarter. NewGen Asset Management Ltd purchased a new stake in shares of Lightspeed Commerce in the second quarter valued at $9,241,000. Marshall Wace LLP boosted its position in shares of Lightspeed Commerce by 306.5% in the second quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after buying an additional 608,661 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in shares of Lightspeed Commerce by 345,464.1% during the second quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock valued at $5,535,000 after buying an additional 404,193 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.