30,237 Shares in Lightspeed Commerce Inc. (NYSE:LSPD) Bought by Verition Fund Management LLC

Verition Fund Management LLC purchased a new position in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,237 shares of the company's stock, valued at approximately $499,000.

Several other hedge funds have also recently made changes to their positions in the stock. Toronto Dominion Bank increased its position in Lightspeed Commerce by 102.8% during the second quarter. Toronto Dominion Bank now owns 6,870 shares of the company's stock valued at $94,000 after acquiring an additional 3,482 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Lightspeed Commerce during the 2nd quarter valued at about $181,000. Aigen Investment Management LP purchased a new stake in shares of Lightspeed Commerce during the 3rd quarter valued at about $225,000. Algert Global LLC bought a new position in shares of Lightspeed Commerce in the 3rd quarter worth approximately $448,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Lightspeed Commerce in the second quarter worth approximately $956,000. 68.68% of the stock is owned by hedge funds and other institutional investors.

Lightspeed Commerce Price Performance

LSPD traded down $0.14 during trading on Thursday, reaching $16.54. 372,372 shares of the company traded hands, compared to its average volume of 1,079,579. The company has a market cap of $2.51 billion, a P/E ratio of -18.58 and a beta of 2.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. Lightspeed Commerce Inc. has a 12-month low of $11.01 and a 12-month high of $21.71. The firm has a fifty day simple moving average of $16.60 and a 200 day simple moving average of $14.73.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $277.18 million during 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, equities analysts forecast that Lightspeed Commerce Inc. will post -0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada raised shares of Lightspeed Commerce from a "strong sell" rating to a "moderate buy" rating in a report on Friday, November 8th. Benchmark upped 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. BTIG Research reaffirmed a "buy" rating and issued a $21.00 target price on shares of Lightspeed Commerce in a report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Finally, BMO Capital Markets raised their price objective on Lightspeed Commerce from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lightspeed Commerce has a consensus rating of "Moderate Buy" and an average 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.