Lightspeed Commerce (NYSE:LSPD) Trading Down 6.3% – What’s Next?

Lightspeed Commerce Inc. (NYSE:LSPD)’s stock price dropped 6.3% during mid-day trading on Monday . The stock traded as low as $17.55 and last traded at $17.61. Approximately 432,827 shares traded hands during trading, a decline of 60% from the average daily volume of 1,094,602 shares. The stock had previously closed at $18.80.

Analyst Ratings Changes

A number of brokerages have commented on LSPD. Benchmark boosted their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group dropped their price objective 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 boosted their target price on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.88.

Lightspeed Commerce Trading Up 1.5 %

The business has a fifty day moving average price of $16.50 and a 200 day moving average price of $14.62. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -19.52 and a beta of 2.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. The firm had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. On average, equities analysts expect that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in LSPD. Intact Investment Management Inc. increased its position in shares of 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 purchasing an additional 869,090 shares during the period. Westfield Capital Management Co. LP increased its holdings in Lightspeed Commerce by 30.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after buying an additional 766,688 shares during the period. NewGen Asset Management Ltd acquired a new position in shares of Lightspeed Commerce in the 2nd quarter valued at $9,241,000. Marshall Wace LLP lifted its holdings in shares of Lightspeed Commerce by 306.5% during the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after acquiring an additional 608,661 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in shares of Lightspeed Commerce by 345,464.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock valued at $5,535,000 after acquiring an additional 404,193 shares in the last quarter. 68.68% of the stock is currently owned by institutional investors.

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.