Westfield Capital Management Co. LP Increases Stock Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Westfield Capital Management Co. LP lifted its stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 30.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,325,531 shares of the company's stock after acquiring an additional 766,688 shares during the period. Westfield Capital Management Co. LP owned 2.19% of Lightspeed Commerce worth $54,838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Lightspeed Commerce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company's stock worth $71,699,000 after purchasing an additional 62,394 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Lightspeed Commerce by 297.6% in the second quarter. Harbor Capital Advisors Inc. now owns 90,296 shares of the company's stock valued at $1,236,000 after acquiring an additional 67,584 shares during the period. Addenda Capital Inc. grew its stake in Lightspeed Commerce by 10.5% in the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company's stock valued at $603,000 after acquiring an additional 4,196 shares during the period. NewGen Asset Management Ltd bought a new stake in shares of Lightspeed Commerce during the second quarter valued at approximately $9,241,000. Finally, CIBC Asset Management Inc raised its position in shares of Lightspeed Commerce by 6.6% during the second quarter. CIBC Asset Management Inc now owns 175,008 shares of the company's stock worth $2,391,000 after purchasing an additional 10,809 shares during the period. 68.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group decreased their price target on shares of Lightspeed Commerce from $22.00 to $20.00 and set a "hold" rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Wells Fargo & Company cut their price target on Lightspeed Commerce from $17.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 31st. BMO Capital Markets increased 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. Finally, BTIG Research reaffirmed a "buy" rating and set a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.88.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock traded up $0.13 on Monday, reaching $17.87. 771,836 shares of the company traded hands, compared to its average volume of 1,103,556. The company has a 50 day moving average of $15.96 and a 200 day moving average of $14.43. 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 Inc. has a 52 week low of $11.01 and a 52 week high of $21.71. The firm has a market capitalization of $2.71 billion, a PE ratio of -20.08 and a beta of 2.35.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $277.18 million during the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. Equities analysts forecast that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current year.

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.