Algert Global LLC Buys Shares of 27,170 Lightspeed Commerce Inc. (NYSE:LSPD)

Algert Global LLC acquired a new position in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,170 shares of the company's stock, valued at approximately $448,000.

A number of other institutional investors also recently bought and sold shares of LSPD. 1832 Asset Management L.P. boosted its position in shares of Lightspeed Commerce by 345,464.1% in the second quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company's stock worth $5,535,000 after purchasing an additional 404,193 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Lightspeed Commerce in the 2nd quarter worth $956,000. Intact Investment Management Inc. increased its stake in Lightspeed Commerce by 10,117.5% in the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company's stock worth $14,473,000 after buying an additional 869,090 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Lightspeed Commerce by 297.6% during the second quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company's stock valued at $1,236,000 after acquiring an additional 67,584 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Lightspeed Commerce by 226.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company's stock valued at $6,108,000 after acquiring an additional 256,900 shares in the last quarter. 68.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LSPD. Benchmark upped their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Jefferies Financial Group dropped their price objective on shares of Lightspeed Commerce from $22.00 to $20.00 and set a "hold" rating for the company in a report on Wednesday, August 21st. BMO Capital Markets lifted their target price on Lightspeed Commerce from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. Piper Sandler increased their price target on Lightspeed Commerce from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada upgraded Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $19.88.

Lightspeed Commerce Stock Up 0.2 %

Lightspeed Commerce stock traded up $0.03 during midday trading on Friday, hitting $18.80. 321,347 shares of the company's stock were exchanged, compared to its average volume of 1,033,160. The company has a market cap of $2.86 billion, a PE ratio of -21.12 and a beta of 2.35. The firm has a 50-day moving average of $16.37 and a two-hundred day moving average of $14.59. Lightspeed Commerce Inc. has a 12 month low of $11.01 and a 12 month high of $21.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $277.18 million during the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. As a group, analysts expect that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current fiscal year.

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.