Benchmark Initiates Coverage on Lightspeed Commerce (NYSE:LSPD)

Benchmark began coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $20.00 target price on the stock.

Several other equities analysts have also recently weighed in on the stock. Piper Sandler dropped their price target on shares of Lightspeed Commerce from $17.00 to $15.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of Lightspeed Commerce from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Tuesday, August 20th. Royal Bank of Canada cut shares of Lightspeed Commerce from a moderate buy rating to a strong sell rating in a research report on Thursday, August 15th. 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 report on Friday, August 2nd. Finally, BMO Capital Markets dropped their price target on shares of Lightspeed Commerce from $20.00 to $18.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $18.65.

Lightspeed Commerce Stock Performance

Shares of LSPD opened at $13.80 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.19 and a quick ratio of 6.06. The stock has a 50-day moving average of $13.03 and a 200-day moving average of $13.59. The company has a market cap of $2.11 billion, a PE ratio of -12.90, a P/E/G ratio of 62.94 and a beta of 2.32. Lightspeed Commerce has a one year low of $11.01 and a one year high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, August 1st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $266.10 million during the quarter, compared to the consensus estimate of $258.58 million. Lightspeed Commerce had a negative return on equity of 0.99% and a negative net margin of 15.55%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the business posted ($0.14) EPS. On average, equities research analysts predict that Lightspeed Commerce will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LSPD. Dixon Mitchell Investment Counsel Inc. purchased a new position in Lightspeed Commerce in the 1st quarter valued at approximately $35,000. Toronto Dominion Bank grew its position 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 valued at $94,000 after purchasing an additional 3,482 shares in the last quarter. Conestoga Capital Advisors LLC purchased a new position in shares of Lightspeed Commerce during the 1st quarter valued at $141,000. Headlands Technologies LLC purchased a new position in shares of Lightspeed Commerce during the 2nd quarter valued at $181,000. Finally, Duality Advisers LP grew its position in shares of Lightspeed Commerce by 160.8% during the 1st quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock valued at $483,000 after purchasing an additional 21,172 shares in the last quarter. 68.68% of the stock is currently 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.