Royal Bank of Canada Lowers Lightspeed Commerce (NYSE:LSPD) Price Target to $15.00

Lightspeed Commerce (NYSE:LSPD) had its price objective dropped by Royal Bank of Canada from $20.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 49.84% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reduced their price target on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, February 6th. Scotiabank cut their target price on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Tuesday. UBS Group lowered their price target on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research report on Friday, February 7th. Bank of America assumed coverage on Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Barclays lowered their target price on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.89.

Lightspeed Commerce Trading Up 0.3 %

Shares of LSPD stock traded up $0.03 during trading on Tuesday, hitting $10.01. 158,653 shares of the stock traded hands, compared to its average volume of 917,996. Lightspeed Commerce has a 52-week low of $9.90 and a 52-week high of $18.96. The firm has a market capitalization of $1.53 billion, a P/E ratio of -12.51, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. The firm’s fifty day moving average price is $12.93 and its 200-day moving average price is $14.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. As a group, research analysts forecast that Lightspeed Commerce will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of institutional investors and hedge funds have recently modified their holdings of LSPD. CIBC Asset Management Inc raised its stake in Lightspeed Commerce by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock valued at $2,620,000 after buying an additional 679 shares in the last quarter. Addenda Capital Inc. increased its holdings in shares of Lightspeed Commerce by 2.0% in the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock valued at $710,000 after acquiring an additional 931 shares during the last quarter. Blue Trust Inc. raised its position in shares of Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after acquiring an additional 1,025 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Lightspeed Commerce by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock worth $370,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Scotia Capital Inc. lifted its stake in Lightspeed Commerce by 12.0% during the fourth quarter. Scotia Capital Inc. now owns 19,225 shares of the company’s stock worth $293,000 after purchasing an additional 2,053 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.

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.