Piper Sandler Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $13.00

Lightspeed Commerce (NYSE:LSPD - Free Report) had its target price lowered by Piper Sandler from $17.00 to $13.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. 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. Benchmark upped their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Barclays cut Lightspeed Commerce from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $20.00 to $18.00 in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price target on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Finally, TD Securities lifted their price objective on Lightspeed Commerce from $15.00 to $19.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Nine analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lightspeed Commerce presently has an average rating of "Hold" and a consensus target price of $18.39.

Lightspeed Commerce Price Performance

Shares of NYSE:LSPD traded up $0.05 on Thursday, hitting $13.36. The company had a trading volume of 702,160 shares, compared to its average volume of 647,318. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.03 billion, a PE ratio of -16.69 and a beta of 2.42. Lightspeed Commerce has a 52-week low of $11.01 and a 52-week high of $18.96. The business has a 50 day moving average of $15.34 and a 200 day moving average of $15.01.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last issued its quarterly 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 0.60% and a negative net margin of 11.75%. As a group, equities analysts anticipate that Lightspeed Commerce will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Lightspeed Commerce by 266.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company's stock worth $20,660,000 after buying an additional 986,100 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company's stock worth $14,473,000 after purchasing an additional 869,090 shares during the period. Westfield Capital Management Co. LP grew its position 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Lightspeed Commerce during the 3rd quarter worth about $3,500,000. Finally, LMR Partners LLP acquired a new stake in shares of Lightspeed Commerce in the 3rd quarter worth approximately $2,441,000. 68.68% of the stock is owned by institutional investors and hedge funds.

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.