Lightspeed Commerce (NYSE:LSPD) Shares Gap Down After Analyst Downgrade

Lightspeed Commerce Inc. (NYSE:LSPD - Get Free Report) shares gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $13.00 to $10.00. The stock had previously closed at $9.94, but opened at $9.54. JPMorgan Chase & Co. currently has a neutral rating on the stock. Lightspeed Commerce shares last traded at $9.55, with a volume of 166,158 shares trading hands.

LSPD has been the topic of a number of other reports. BMO Capital Markets reduced their target price on shares of Lightspeed Commerce from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday. Scotiabank reduced their price objective on Lightspeed Commerce from $19.00 to $17.00 and set a "sector outperform" rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company decreased their price objective on Lightspeed Commerce from $13.00 to $11.00 and set an "equal weight" rating on the stock in a research report on Friday. Atb Cap Markets downgraded Lightspeed Commerce from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, Bank of America cut their price target on Lightspeed Commerce from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lightspeed Commerce currently has a consensus rating of "Hold" and a consensus price target of $15.09.

Institutional Trading of Lightspeed Commerce

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Lightspeed Commerce by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,333,306 shares of the company's stock worth $81,319,000 after acquiring an additional 70,324 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Lightspeed Commerce by 37,065.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company's stock worth $63,688,000 after purchasing an additional 4,170,557 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Lightspeed Commerce by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 3,149,919 shares of the company's stock worth $48,009,000 after purchasing an additional 24,891 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Lightspeed Commerce by 1.1% during the fourth quarter. Bank of Montreal Can now owns 2,022,590 shares of the company's stock worth $30,803,000 after purchasing an additional 21,357 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in shares of Lightspeed Commerce by 94.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company's stock valued at $26,031,000 after buying an additional 829,577 shares during the period. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Stock Performance

The firm has a market cap of $1.35 billion, a P/E ratio of -11.01, a PEG ratio of 3.03 and a beta of 2.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. The stock's 50-day moving average is $12.52 and its 200 day moving average is $14.74.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts predict that Lightspeed Commerce Inc. will post 0.08 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.