Lightspeed Commerce (NYSE:LSPD – Free Report) had its price objective cut by Wells Fargo & Company from $20.00 to $17.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.
Other equities research analysts have also issued research reports about the company. TD Securities lowered Lightspeed Commerce from a buy rating to a hold rating and dropped their price target for the stock from $25.00 to $17.50 in a research note on Friday. Scotiabank boosted their price target on Lightspeed Commerce from $21.00 to $22.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Royal Bank of Canada restated an outperform rating and set a $21.00 price target on shares of Lightspeed Commerce in a research note on Tuesday, November 7th. Redburn Atlantic assumed coverage on Lightspeed Commerce in a research note on Wednesday, December 6th. They set a neutral rating and a $17.00 price target on the stock. Finally, UBS Group began coverage on Lightspeed Commerce in a research note on Friday, October 20th. They set a neutral rating and a $16.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $18.87.
Lightspeed Commerce Price Performance
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. National Bank of Canada FI lifted its holdings in Lightspeed Commerce by 9.3% in the third quarter. National Bank of Canada FI now owns 1,625,814 shares of the company’s stock valued at $22,484,000 after acquiring an additional 137,797 shares during the period. Bank of Nova Scotia acquired a new position in shares of Lightspeed Commerce during the 2nd quarter worth approximately $314,000. North Peak Capital Management LLC acquired a new position in shares of Lightspeed Commerce during the 2nd quarter worth approximately $25,578,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Lightspeed Commerce by 15.2% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,440 shares of the company’s stock worth $143,000 after buying an additional 1,111 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Lightspeed Commerce by 4.9% during the 3rd quarter. CIBC Asset Management Inc now owns 146,430 shares of the company’s stock worth $2,063,000 after buying an additional 6,886 shares during the period. 51.98% of the stock is owned by institutional investors and hedge funds.
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.
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