Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $18.00 by Analysts at Bank of America

Lightspeed Commerce (NYSE:LSPD) had its price target lowered by Bank of America from $20.00 to $18.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also weighed in on LSPD. Benchmark cut their price objective on shares of Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank reduced their price objective on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research note on Tuesday. UBS Group lowered their target price on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Piper Sandler reduced their price target on Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada lowered their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Lightspeed Commerce Trading Down 5.8 %

Lightspeed Commerce stock opened at $9.37 on Thursday. Lightspeed Commerce has a 12 month low of $9.25 and a 12 month high of $18.96. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.43 billion, a P/E ratio of -11.71, a P/E/G ratio of 3.03 and a beta of 2.44. The company’s fifty day simple moving average is $12.63 and its 200-day simple moving average is $14.73.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Several hedge funds and other institutional investors have recently modified their holdings of LSPD. Blue Trust Inc. boosted its holdings in Lightspeed Commerce by 214.4% in the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after purchasing an additional 1,025 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Lightspeed Commerce by 27.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock worth $158,000 after purchasing an additional 2,168 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Lightspeed Commerce during the fourth quarter valued at about $165,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Lightspeed Commerce in the fourth quarter valued at about $256,000. Finally, Twinbeech Capital LP acquired a new stake in Lightspeed Commerce during the fourth quarter worth about $261,000. 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.