Jefferies Financial Group Lowers Lightspeed Commerce (NYSE:LSPD) Price Target to $14.50

Lightspeed Commerce (NYSE:LSPD) had its price target lowered by Jefferies Financial Group from $16.00 to $14.50 in a research note released on Friday, BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the stock.

A number of other brokerages have also weighed in on LSPD. BMO Capital Markets cut their price objective on Lightspeed Commerce from $20.00 to $18.00 and set an outperform rating on the stock in a report on Friday. TD Securities dropped their price target on shares of Lightspeed Commerce from $16.00 to $15.00 and set a hold rating on the stock in a research note on Friday. Scotiabank upped their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a sector outperform rating in a report on Friday, May 17th. Cibc World Mkts raised shares of Lightspeed Commerce from a hold rating to a strong-buy rating in a research note on Friday, May 24th. Finally, Piper Sandler decreased their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set a neutral rating on the stock in a research note on Friday. Ten 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. According to data from MarketBeat.com, Lightspeed Commerce currently has a consensus rating of Hold and an average price target of $18.28.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock traded up $0.51 during midday trading on Friday, hitting $12.35. The company had a trading volume of 939,358 shares, compared to its average volume of 1,214,452. The company has a fifty day simple moving average of $13.93 and a 200 day simple moving average of $14.30. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -11.07 and a beta of 2.33. The company has a quick ratio of 6.23, a current ratio of 6.34 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. Lightspeed Commerce had a negative net margin of 15.55% and a negative return on equity of 0.98%. The business had revenue of $266.10 million during the quarter, compared to the consensus estimate of $258.58 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, analysts predict that Lightspeed Commerce will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP acquired a new position in Lightspeed Commerce during the first quarter worth about $34,984,000. Norges Bank acquired a new stake in Lightspeed Commerce during the 4th quarter valued at $25,993,000. Hillsdale Investment Management Inc. raised its holdings in shares of Lightspeed Commerce by 365.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,348,120 shares of the company’s stock worth $28,317,000 after acquiring an additional 1,058,320 shares during the last quarter. Azora Capital LP raised its position in shares of Lightspeed Commerce by 133.1% in the fourth quarter. Azora Capital LP now owns 1,579,312 shares of the company’s stock valued at $33,166,000 after buying an additional 901,861 shares during the last quarter. Finally, NewGen Asset Management Ltd purchased a new stake in shares of Lightspeed Commerce during the 2nd quarter valued at $9,241,000. 68.68% of the stock is owned by hedge funds and other institutional investors.

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.