Connor Clark & Lunn Investment Management Ltd. Purchases 256,900 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 226.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 370,500 shares of the company's stock after purchasing an additional 256,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.24% of Lightspeed Commerce worth $6,108,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Toronto Dominion Bank boosted its position in Lightspeed Commerce by 102.8% in the second quarter. Toronto Dominion Bank now owns 6,870 shares of the company's stock valued at $94,000 after buying an additional 3,482 shares in the last quarter. Headlands Technologies LLC bought a new stake in Lightspeed Commerce during the 2nd quarter worth approximately $181,000. Aigen Investment Management LP acquired a new stake in Lightspeed Commerce during the 3rd quarter valued at $225,000. Addenda Capital Inc. raised its position in Lightspeed Commerce by 10.5% in the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company's stock valued at $603,000 after purchasing an additional 4,196 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Lightspeed Commerce in the second quarter worth $956,000. Institutional investors own 68.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LSPD shares. Jefferies Financial Group decreased their price objective on shares of Lightspeed Commerce from $22.00 to $20.00 and set a "hold" rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their target price on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Piper Sandler raised their price target on Lightspeed Commerce from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, November 11th. BTIG Research restated a "buy" rating and set a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Finally, Wells Fargo & Company dropped their price target on shares of Lightspeed Commerce from $17.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.88.

Lightspeed Commerce Stock Up 0.4 %

NYSE:LSPD traded up $0.07 during trading hours on Friday, reaching $17.74. 491,858 shares of the stock were exchanged, compared to its average volume of 1,076,887. The stock has a market cap of $2.69 billion, a PE ratio of -19.93 and a beta of 2.35. Lightspeed Commerce Inc. has a twelve month low of $11.01 and a twelve month high of $21.71. The firm has a 50 day moving average of $15.86 and a 200 day moving average of $14.39. 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 - Get Free Report) last released its 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 business 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 earnings per share for the current year.

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.