Lightspeed Commerce (NYSE:LSPD) Shares Gap Down - What's Next?

Lightspeed Commerce Inc. (NYSE:LSPD - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $15.38, but opened at $14.74. Lightspeed Commerce shares last traded at $14.60, with a volume of 57,487 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LSPD shares. Barclays cut Lightspeed Commerce from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $20.00 to $18.00 in a report on Friday. Benchmark upped their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Royal Bank of Canada raised shares of Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating in a research note on Friday, November 8th. Finally, BTIG Research reiterated a "buy" rating and issued a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $19.93.

Lightspeed Commerce Stock Down 3.8 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94. The stock has a market capitalization of $2.25 billion, a PE ratio of -16.63 and a beta of 2.44. The company has a 50 day moving average price of $16.66 and a 200-day moving average price of $14.89.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. The business had revenue of $277.18 million for the quarter, compared to the consensus estimate of $273.90 million. As a group, analysts forecast that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Intact Investment Management Inc. lifted its stake 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. Westfield Capital Management Co. LP lifted its position in Lightspeed Commerce by 30.0% during 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 during the period. Marshall Wace LLP boosted its holdings in shares of Lightspeed Commerce by 306.5% during the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company's stock valued at $11,051,000 after buying an additional 608,661 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Lightspeed Commerce by 345,464.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company's stock worth $5,535,000 after buying an additional 404,193 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of 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 worth $6,108,000 after acquiring an additional 256,900 shares in the last quarter. Hedge funds and other 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.