Raymond James Cuts Lightspeed Commerce (TSE:LSPD) Price Target to C$29.00

Lightspeed Commerce (TSE:LSPD) had its price objective reduced by analysts at Raymond James from C$36.00 to C$29.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target would indicate a potential upside of 55.83% from the stock’s current price.

A number of other analysts have also weighed in on the stock. CIBC lowered their price objective on shares of Lightspeed Commerce from C$35.00 to C$30.00 and set an “outperform” rating for the company in a research note on Friday. Scotiabank decreased their price objective on Lightspeed Commerce from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Stifel Nicolaus cut their price objective on shares of Lightspeed Commerce from C$18.00 to C$15.00 and set a “hold” rating for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.39.

Lightspeed Commerce Stock Up 3.2 %

TSE:LSPD traded up C$0.57 during trading hours on Friday, reaching C$18.61. 822,542 shares of the company traded hands, compared to its average volume of 595,726. The business’s 50-day moving average price is C$22.23 and its two-hundred day moving average price is C$20.91. The company has a current ratio of 6.19, a quick ratio of 6.05 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of C$2.82 billion, a P/E ratio of -13.89 and a beta of 2.69. Lightspeed Commerce has a 1 year low of C$16.04 and a 1 year high of C$26.60.

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.