Lightspeed Commerce (NYSE:LSPD) Downgraded to "Equal Weight" Rating by Barclays

Lightspeed Commerce (NYSE:LSPD - Get Free Report) was downgraded by research analysts at Barclays from an "overweight" rating to an "equal weight" rating in a report released on Friday, MarketBeat.com reports. They presently have a $18.00 price objective on the stock, down from their previous price objective of $20.00. Barclays's price target indicates a potential upside of 21.62% from the stock's current price.

Several other equities research analysts have also recently weighed in on LSPD. Royal Bank of Canada raised Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating in a research report on Friday, November 8th. Benchmark raised their price target 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. BTIG Research reaffirmed a "buy" rating and set a $21.00 price objective on shares of Lightspeed Commerce in a research report on Thursday, September 26th. TD Securities lifted their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Finally, BMO Capital Markets boosted their price target on Lightspeed Commerce from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Nine equities research 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.93.

Lightspeed Commerce Stock Performance

Lightspeed Commerce stock traded down $0.58 on Friday, reaching $14.80. 472,251 shares of the stock were exchanged, compared to its average volume of 397,108. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a twelve month low of $11.01 and a twelve month high of $20.09. The firm has a fifty day moving average price of $16.66 and a two-hundred day moving average price of $14.89. The stock has a market cap of $2.25 billion, a PE ratio of -16.63 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. The business had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. Sell-side analysts anticipate that Lightspeed Commerce will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Several institutional investors have recently added to or reduced their stakes in LSPD. 1832 Asset Management L.P. grew its holdings in shares of Lightspeed Commerce by 345,464.1% during 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 last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Lightspeed Commerce during the 2nd quarter worth about $956,000. State Street Corp lifted its position in Lightspeed Commerce by 29.1% during the 3rd quarter. State Street Corp now owns 353,472 shares of the company's stock worth $5,829,000 after buying an additional 79,696 shares in the last quarter. Intact Investment Management Inc. grew its holdings in Lightspeed Commerce by 10,117.5% during the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company's stock worth $14,473,000 after acquiring an additional 869,090 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Lightspeed Commerce in the 3rd quarter valued at about $499,000. 68.68% of the stock is owned by institutional investors.

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.