Piper Sandler Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $13.00

Lightspeed Commerce (NYSE:LSPD) had its price target lowered by research analysts at Piper Sandler from $17.00 to $13.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 3.63% from the company’s current price.

A number of other equities research analysts have also recently weighed in on LSPD. Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. TD Securities upped their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Barclays cut Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $20.00 to $18.00 in a research note on Friday, January 10th. Finally, Benchmark increased their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lightspeed Commerce currently has an average rating of “Hold” and an average target price of $19.21.

Lightspeed Commerce Stock Down 13.5 %

LSPD stock opened at $12.55 on Thursday. The firm has a market cap of $1.91 billion, a PE ratio of -14.10 and a beta of 2.43. Lightspeed Commerce has a one year low of $11.01 and a one year high of $20.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. The firm’s 50 day moving average price is $15.53 and its 200-day moving average price is $14.99.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results 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 13.56% and a negative return on equity of 0.10%. On average, equities research analysts anticipate that Lightspeed Commerce will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Lightspeed Commerce by 29.1% in the 3rd quarter. State Street Corp now owns 353,472 shares of the company’s stock valued at $5,829,000 after purchasing an additional 79,696 shares during the last quarter. Intact Investment Management Inc. lifted its position in Lightspeed Commerce by 10,117.5% during the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after acquiring an additional 869,090 shares during the period. Verition Fund Management LLC purchased a new position in shares of Lightspeed Commerce in the 3rd quarter valued at approximately $499,000. Westfield Capital Management Co. LP increased its holdings in shares of Lightspeed Commerce by 30.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after purchasing an additional 766,688 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Lightspeed Commerce by 226.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after purchasing an additional 256,900 shares during 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.