State Street Corp Boosts Stake in Lightspeed Commerce Inc. (NYSE:LSPD)

State Street Corp grew its stake in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 29.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 353,472 shares of the company's stock after purchasing an additional 79,696 shares during the period. State Street Corp owned approximately 0.23% of Lightspeed Commerce worth $5,829,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LSPD. Toronto Dominion Bank boosted its stake in shares of Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company's stock worth $94,000 after purchasing an additional 3,482 shares during the period. Headlands Technologies LLC bought a new stake in Lightspeed Commerce in the second quarter worth about $181,000. Aigen Investment Management LP purchased a new position in shares of Lightspeed Commerce during the third quarter valued at approximately $225,000. Polar Asset Management Partners Inc. bought a new position in shares of Lightspeed Commerce during the third quarter valued at approximately $412,000. Finally, Algert Global LLC purchased a new stake in shares of Lightspeed Commerce in the third quarter worth approximately $448,000. 68.68% of the stock is owned by institutional investors.

Lightspeed Commerce Stock Down 3.0 %

Shares of NYSE LSPD traded down $0.49 during mid-day trading on Friday, reaching $15.63. 329,257 shares of the company were exchanged, compared to its average volume of 1,057,789. Lightspeed Commerce Inc. has a 1 year low of $11.01 and a 1 year high of $21.71. The firm has a 50-day moving average of $16.59 and a 200 day moving average of $14.80. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -17.56 and a beta of 2.40. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its 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 business had revenue of $277.18 million during the quarter, compared to the consensus estimate 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 expect that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BTIG Research restated a "buy" rating and set a $21.00 price objective on shares of Lightspeed Commerce in a report on Thursday, September 26th. Benchmark upped their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Piper Sandler boosted their price objective on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Monday, November 11th. Finally, 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. Eight 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.07.

Lightspeed Commerce Company Profile

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.