Lightspeed Commerce (NYSE:LSPD) Stock Price Up 10.3% - Here's What Happened

Lightspeed Commerce Inc. (NYSE:LSPD - Get Free Report)'s stock price rose 10.3% during mid-day trading on Thursday . The company traded as high as $17.93 and last traded at $17.38. Approximately 520,256 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,098,467 shares. The stock had previously closed at $15.76.

Wall Street Analyst Weigh In

LSPD has been the subject of several recent research reports. BTIG Research reaffirmed a "buy" rating and set a $21.00 target price on shares of Lightspeed Commerce in a report on Thursday, September 26th. JPMorgan Chase & Co. cut their price target on Lightspeed Commerce from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. Benchmark reissued a "buy" rating and issued a $20.00 price objective on shares of Lightspeed Commerce in a report on Thursday, September 26th. TD Securities reduced their target price on Lightspeed Commerce from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered Lightspeed Commerce from a "moderate buy" rating to a "strong sell" rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lightspeed Commerce has a consensus rating of "Hold" and a consensus target price of $18.69.

Lightspeed Commerce Stock Performance

The stock has a 50-day moving average of $14.59 and a 200 day moving average of $14.03. The stock has a market cap of $2.55 billion, a PE ratio of -17.71, a P/E/G ratio of 9.52 and a beta of 2.35. The company has a quick ratio of 6.06, a current ratio of 6.19 and a debt-to-equity ratio of 0.01.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently made changes to their positions in LSPD. Toronto Dominion Bank raised its stake in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company's stock valued at $94,000 after acquiring an additional 3,482 shares during the period. Headlands Technologies LLC purchased a new position in shares of Lightspeed Commerce in the 2nd quarter valued at about $181,000. Aigen Investment Management LP acquired a new position in shares of Lightspeed Commerce during the third quarter worth about $225,000. Duality Advisers LP grew its position in shares of Lightspeed Commerce by 160.8% during the first quarter. Duality Advisers LP now owns 34,337 shares of the company's stock worth $483,000 after buying an additional 21,172 shares in the last quarter. Finally, Addenda Capital Inc. increased its stake in shares of Lightspeed Commerce by 10.5% during the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company's stock worth $603,000 after buying an additional 4,196 shares during the period. Hedge funds and other institutional investors own 68.68% of the company's stock.

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.

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