PCJ Investment Counsel Ltd. Purchases Shares of 92,000 Lightspeed Commerce Inc. (NYSE:LSPD)

PCJ Investment Counsel Ltd. purchased a new stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 92,000 shares of the company's stock, valued at approximately $1,517,000. PCJ Investment Counsel Ltd. owned 0.06% of Lightspeed Commerce as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LSPD. 1832 Asset Management L.P. raised its position in shares of Lightspeed Commerce by 345,464.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company's stock valued at $5,535,000 after acquiring an additional 404,193 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Lightspeed Commerce during the second quarter worth approximately $956,000. Intact Investment Management Inc. increased its holdings in shares of Lightspeed Commerce by 10,117.5% during the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company's stock worth $14,473,000 after buying an additional 869,090 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Lightspeed Commerce by 297.6% in the second quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company's stock worth $1,236,000 after purchasing an additional 67,584 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Lightspeed Commerce by 306.5% during the second quarter. Marshall Wace LLP now owns 807,219 shares of the company's stock valued at $11,051,000 after purchasing an additional 608,661 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LSPD has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada raised shares of Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating in a research report on Friday, November 8th. Piper Sandler lifted their target price on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. BMO Capital Markets boosted their price target on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Finally, BTIG Research reiterated a "buy" rating and issued a $21.00 price objective on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.88.

Lightspeed Commerce Stock Performance

Lightspeed Commerce stock traded down $0.05 during mid-day trading on Wednesday, hitting $17.61. 444,215 shares of the company's stock traded hands, compared to its average volume of 1,108,796. Lightspeed Commerce Inc. has a one year low of $11.01 and a one year high of $21.71. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $15.56 and a 200 day moving average price of $14.32. The company has a market cap of $2.67 billion, a PE ratio of -19.85, a price-to-earnings-growth ratio of 6.57 and a beta of 2.35.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. The firm had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. On average, equities analysts forecast that Lightspeed Commerce Inc. will post 0.05 EPS 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.