Benchmark Issues Positive Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price target increased by equities researchers at Benchmark from $20.00 to $21.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price target points to a potential upside of 25.60% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Wells Fargo & Company cut their price target on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada downgraded Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their price target on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Piper Sandler cut their price target on Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, BTIG Research restated a “buy” rating and set a $21.00 price target on shares of Lightspeed Commerce in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.75.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock opened at $16.72 on Friday. Lightspeed Commerce has a 52 week low of $11.01 and a 52 week high of $21.71. The business’s fifty day simple moving average is $14.65 and its 200-day simple moving average is $14.04. The firm has a market cap of $2.53 billion, a PE ratio of -17.06, a price-to-earnings-growth ratio of 9.52 and a beta of 2.35. The company has a quick ratio of 6.06, a current ratio of 6.19 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last posted its 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. Lightspeed Commerce had a negative return on equity of 0.99% and a negative net margin of 15.55%. The firm had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. Equities analysts forecast that Lightspeed Commerce will post 0.05 earnings per share for the current year.

Institutional Trading of Lightspeed Commerce

A number of hedge funds have recently added to or reduced their stakes in LSPD. Toronto Dominion Bank lifted its position in Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after acquiring an additional 3,482 shares during the period. Headlands Technologies LLC acquired a new stake in Lightspeed Commerce during the 2nd quarter worth approximately $181,000. Aigen Investment Management LP acquired a new stake in Lightspeed Commerce during the 3rd quarter worth approximately $225,000. Duality Advisers LP lifted its position in Lightspeed Commerce by 160.8% during the 1st quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock worth $483,000 after acquiring an additional 21,172 shares during the period. Finally, Addenda Capital Inc. lifted its position in Lightspeed Commerce by 10.5% during the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock worth $603,000 after acquiring an additional 4,196 shares during the period. 68.68% of the stock is 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.