Scotiabank Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD - Get Free Report) had its price objective cut by analysts at Scotiabank from $21.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's target price indicates a potential upside of 44.49% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the company. Barclays cut Lightspeed Commerce from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $20.00 to $18.00 in a research note on Friday, January 10th. Wells Fargo & Company decreased their price objective on Lightspeed Commerce from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday. UBS Group decreased their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a research note on Friday. Piper Sandler decreased their price objective on Lightspeed Commerce from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Finally, TD Securities upped their price objective on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a "hold" rating in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $18.39.

Lightspeed Commerce Stock Down 1.2 %

Shares of LSPD stock traded down $0.16 during mid-day trading on Friday, hitting $13.15. The stock had a trading volume of 1,023,637 shares, compared to its average volume of 660,012. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $18.96. The firm has a market capitalization of $2.00 billion, a P/E ratio of -16.44 and a beta of 2.42. The firm's 50-day moving average is $15.34 and its two-hundred day moving average is $15.01. 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 issued its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.60% and a negative net margin of 11.75%. On average, analysts predict that Lightspeed Commerce will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its position in Lightspeed Commerce by 214.4% during the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company's stock worth $25,000 after purchasing an additional 1,025 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Lightspeed Commerce in the third quarter valued at approximately $225,000. Toronto Dominion Bank lifted its position in shares of Lightspeed Commerce by 153.4% in the third quarter. Toronto Dominion Bank now owns 17,408 shares of the company's stock valued at $287,000 after acquiring an additional 10,538 shares in the last quarter. Amundi lifted its position in shares of Lightspeed Commerce by 20.5% in the fourth quarter. Amundi now owns 22,538 shares of the company's stock valued at $347,000 after acquiring an additional 3,838 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Lightspeed Commerce by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company's stock valued at $370,000 after acquiring an additional 1,276 shares in the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

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.