Point72 Asset Management L.P. Takes Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Point72 Asset Management L.P. purchased a new stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 212,270 shares of the company's stock, valued at approximately $3,500,000. Point72 Asset Management L.P. owned 0.14% of Lightspeed Commerce at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Westfield Capital Management Co. LP increased its stake in shares of 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. Dimensional Fund Advisors LP grew its stake in Lightspeed Commerce by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,205,168 shares of the company's stock valued at $30,189,000 after purchasing an additional 64,944 shares during the last quarter. Bank of Montreal Can grew its stake in Lightspeed Commerce by 4.9% in the second quarter. Bank of Montreal Can now owns 2,059,914 shares of the company's stock valued at $28,281,000 after purchasing an additional 95,832 shares during the last quarter. Azora Capital LP grew its stake in Lightspeed Commerce by 3.4% in the third quarter. Azora Capital LP now owns 1,439,331 shares of the company's stock valued at $23,735,000 after purchasing an additional 47,359 shares during the last quarter. Finally, Intact Investment Management Inc. grew its stake in 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 purchasing an additional 869,090 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LSPD shares. Jefferies Financial Group cut their target price on Lightspeed Commerce from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Wednesday, August 21st. BMO Capital Markets raised their price target on Lightspeed Commerce from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, September 26th. TD Securities raised their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Finally, Benchmark raised their price target on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lightspeed Commerce has an average rating of "Moderate Buy" and a consensus target price of $20.07.

Lightspeed Commerce Stock Performance

NYSE:LSPD traded down $0.17 during trading hours on Monday, reaching $17.14. The company had a trading volume of 225,014 shares, compared to its average volume of 1,087,737. The firm has a market cap of $2.60 billion, a PE ratio of -19.45 and a beta of 2.40. Lightspeed Commerce Inc. has a 1-year low of $11.01 and a 1-year high of $21.71. The business's 50 day moving average price is $16.56 and its 200-day moving average price is $14.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.08 and a quick ratio of 5.94.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last posted 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. The business had revenue of $277.18 million during the quarter, compared to analysts' expectations of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. Research analysts forecast that Lightspeed Commerce Inc. will post -0.02 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.