JPMorgan Chase & Co. Issues Positive Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $20.00 to $26.00 in a research note issued to investors on Friday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 51.16% from the company’s previous close.

Several other research analysts have also commented on LSPD. Wells Fargo & Company reduced their price target on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Piper Sandler decreased their price target on shares of Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada lowered shares of Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, August 15th. BMO Capital Markets raised their target price on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Finally, Benchmark upped their price target on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lightspeed Commerce presently has an average rating of “Hold” and a consensus price target of $19.75.

Lightspeed Commerce Stock Up 1.5 %

Shares of LSPD stock traded up $0.25 on Friday, hitting $17.20. The stock had a trading volume of 636,457 shares, compared to its average volume of 1,107,032. The company has a quick ratio of 6.06, a current ratio of 6.19 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a one year low of $11.01 and a one year high of $21.71. The business has a 50 day moving average price of $14.73 and a 200 day moving average price of $14.06. The company has a market cap of $2.61 billion, a PE ratio of -17.46, a P/E/G ratio of 9.52 and a beta of 2.35.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm 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 15.55% and a negative return on equity of 0.99%. Research analysts anticipate that Lightspeed Commerce will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Lightspeed Commerce by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company’s stock worth $71,699,000 after acquiring an additional 62,394 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Lightspeed Commerce during the 1st quarter valued at approximately $34,984,000. Dimensional Fund Advisors LP lifted its stake in shares of Lightspeed Commerce by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,205,168 shares of the company’s stock valued at $30,189,000 after purchasing an additional 64,944 shares during the period. Bank of Montreal Can boosted its holdings in Lightspeed Commerce by 4.9% during the second quarter. Bank of Montreal Can now owns 2,059,914 shares of the company’s stock worth $28,281,000 after buying an additional 95,832 shares in the last quarter. Finally, Intact Investment Management Inc. grew its position in Lightspeed Commerce by 10,117.5% during the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after buying an additional 869,090 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

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.