Bank of America Initiates Coverage on Lightspeed Commerce (NYSE:LSPD)

Bank of America began coverage on shares of Lightspeed Commerce (NYSE:LSPD - Free Report) in a report issued on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $20.00 price objective on the stock.

Several other equities research analysts have also issued reports on LSPD. Royal Bank of Canada raised shares of Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating in a report on Friday, November 8th. Wells Fargo & Company reduced their price objective on shares of Lightspeed Commerce from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, February 7th. Barclays decreased their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. TD Securities upped their target price on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, November 8th. Finally, Piper Sandler decreased their price target on Lightspeed Commerce from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lightspeed Commerce presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.39.

Lightspeed Commerce Stock Performance

LSPD traded down $0.29 during trading on Wednesday, hitting $13.16. The company's stock had a trading volume of 1,398,574 shares, compared to its average volume of 762,023. The business's 50 day simple moving average is $14.77 and its 200-day simple moving average is $15.00. The firm has a market cap of $2.00 billion, a PE ratio of -16.44, a P/E/G ratio of 3.07 and a beta of 2.42. Lightspeed Commerce has a one year low of $11.01 and a one year high of $18.96. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. As a group, sell-side analysts predict that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in Lightspeed Commerce by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 172,182 shares of the company's stock valued at $2,620,000 after purchasing an additional 679 shares in the last quarter. Addenda Capital Inc. increased its holdings in shares of Lightspeed Commerce by 2.0% in the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company's stock worth $710,000 after buying an additional 931 shares during the last quarter. Blue Trust Inc. raised its position in shares of Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company's stock valued at $25,000 after buying an additional 1,025 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Lightspeed Commerce by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company's stock valued at $370,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in Lightspeed Commerce by 12.0% in the fourth quarter. Scotia Capital Inc. now owns 19,225 shares of the company's stock worth $293,000 after acquiring an additional 2,053 shares in the last quarter. 68.68% of the stock is owned by hedge funds and other 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.