Lightspeed Commerce (NYSE:LSPD) Price Target Lowered to $13.00 at Wells Fargo & Company

Lightspeed Commerce (NYSE:LSPD - Free Report) had its price target decreased by Wells Fargo & Company from $16.00 to $13.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on LSPD. TD Securities raised their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Barclays cut shares of Lightspeed Commerce from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $20.00 to $18.00 in a research report on Friday, January 10th. Benchmark lifted their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Friday, November 8th. 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, Royal Bank of Canada raised Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating in a report on Friday, November 8th. Nine research 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 company's stock. According to data from MarketBeat, Lightspeed Commerce has a consensus rating of "Hold" and an average target price of $18.39.

Lightspeed Commerce Price Performance

Shares of NYSE LSPD traded up $0.04 during midday trading on Friday, reaching $13.35. 702,160 shares of the company traded hands, compared to its average volume of 647,318. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $18.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. The stock's 50-day simple moving average is $15.34 and its 200-day simple moving average is $15.01. The firm has a market cap of $2.03 billion, a PE ratio of -16.69 and a beta of 2.42.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last released 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 Trading of Lightspeed Commerce

Large investors have recently made changes to their positions in the company. State Street Corp grew its stake in Lightspeed Commerce by 29.1% in the third quarter. State Street Corp now owns 353,472 shares of the company's stock valued at $5,829,000 after acquiring an additional 79,696 shares during the period. Intact Investment Management Inc. grew its position in shares of Lightspeed Commerce by 10,117.5% in the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company's stock valued at $14,473,000 after purchasing an additional 869,090 shares during the period. Verition Fund Management LLC bought a new position in Lightspeed Commerce in the third quarter valued at approximately $499,000. Westfield Capital Management Co. LP lifted its stake in Lightspeed Commerce by 30.0% in the third 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. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 buying an additional 256,900 shares during the period. Institutional investors own 68.68% of the company's stock.

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.