Lightspeed Commerce (NYSE:LSPD) Shares Gap Down After Earnings Miss

Lightspeed Commerce Inc. (NYSE:LSPD - Get Free Report)'s stock price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $14.50, but opened at $13.10. Lightspeed Commerce shares last traded at $12.62, with a volume of 309,641 shares trading hands.

The company reported $0.03 earnings per share (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%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LSPD shares. Piper Sandler cut their price objective on Lightspeed Commerce from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday. Benchmark increased their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Barclays reduced their price target on shares of Lightspeed Commerce from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday. TD Securities upped their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a "hold" rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.39.

Institutional Investors Weigh In On Lightspeed Commerce

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in Lightspeed Commerce by 29.1% in the 3rd quarter. State Street Corp now owns 353,472 shares of the company's stock worth $5,829,000 after purchasing an additional 79,696 shares during the period. Intact Investment Management Inc. increased its position in shares of Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company's stock valued at $14,473,000 after buying an additional 869,090 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Lightspeed Commerce during the 3rd quarter worth approximately $499,000. Westfield Capital Management Co. LP lifted its position in shares of Lightspeed Commerce by 30.0% during 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. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Lightspeed Commerce by 226.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company's stock valued at $6,108,000 after acquiring an additional 256,900 shares during the period. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Stock Up 1.4 %

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 business's 50 day moving average is $15.42 and its 200-day moving average is $15.00. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -16.63 and a beta of 2.42.

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.