Lightspeed Commerce (NYSE:LSPD) Trading 10.3% Higher Following Strong Earnings

Lightspeed Commerce Inc. (NYSE:LSPD) shot up 10.3% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $17.93 and last traded at $17.38. 520,256 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,098,467 shares. The stock had previously closed at $15.76.

The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative net margin of 15.55% and a negative return on equity of 0.99%.

Analysts Set New Price Targets

LSPD has been the subject of several recent analyst reports. Wells Fargo & Company decreased 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 target on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday. TD Securities raised their price objective on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday. Finally, Benchmark boosted their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.75.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LSPD. Duality Advisers LP lifted its position in Lightspeed Commerce by 160.8% in the 1st quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock worth $483,000 after buying an additional 21,172 shares in the last quarter. Tocqueville Asset Management L.P. bought a new stake in Lightspeed Commerce during the 1st quarter valued at approximately $1,898,000. Westfield Capital Management Co. LP acquired a new stake in Lightspeed Commerce in the 1st quarter valued at approximately $34,984,000. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 62,394 shares during the last quarter. Finally, Boulder Hill Capital Management LP acquired a new stake in shares of Lightspeed Commerce in the first quarter worth $811,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Trading Up 0.7 %

The stock has a market capitalization of $2.59 billion, a P/E ratio of -17.42, a P/E/G ratio of 9.93 and a beta of 2.35. The business’s fifty day simple moving average is $14.82 and its two-hundred day simple moving average is $14.09. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01.

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.