Public Employees Retirement System of Ohio acquired a new stake in 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 acquired 42,328 shares of the company's stock, valued at approximately $699,000.
Other hedge funds have also recently made changes to their positions in the company. Intact Investment Management Inc. grew its stake in Lightspeed Commerce by 10,117.5% during the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company's stock valued at $14,473,000 after acquiring an additional 869,090 shares in the last quarter. Westfield Capital Management Co. LP grew its position 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 purchasing an additional 766,688 shares in the last quarter. NewGen Asset Management Ltd bought a new stake in shares of Lightspeed Commerce in the second quarter worth about $9,241,000. Marshall Wace LLP lifted its position in shares of Lightspeed Commerce by 306.5% in the second quarter. Marshall Wace LLP now owns 807,219 shares of the company's stock worth $11,051,000 after buying an additional 608,661 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in Lightspeed Commerce by 345,464.1% during the second quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company's stock valued at $5,535,000 after buying an additional 404,193 shares during the last quarter. Institutional investors own 68.68% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Benchmark lifted their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Piper Sandler upped their price target on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. TD Securities lifted their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada upgraded Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating in a research report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.07.
Check Out Our Latest Stock Analysis on Lightspeed Commerce
Lightspeed Commerce Trading Up 4.2 %
Lightspeed Commerce stock traded up $0.65 during mid-day trading on Friday, hitting $16.07. The company's stock had a trading volume of 1,169,215 shares, compared to its average volume of 1,069,420. 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 company has a 50 day moving average of $16.60 and a 200-day moving average of $14.77. Lightspeed Commerce Inc. has a one year low of $11.01 and a one year high of $21.71. The stock has a market cap of $2.44 billion, a PE ratio of -18.06 and a beta of 2.40.
Lightspeed Commerce (NYSE:LSPD - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The firm had revenue of $277.18 million for the quarter, compared to analysts' expectations of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. On average, research analysts anticipate that Lightspeed Commerce Inc. will post -0.02 EPS for the current year.
About Lightspeed Commerce
(
Free Report)
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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