Wells Fargo & Company Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price target decreased by equities researchers at Wells Fargo & Company from $17.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.50% from the company’s previous close.

Several other brokerages also recently issued reports on LSPD. TD Securities upped their price objective on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Barclays lowered shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $20.00 to $18.00 in a report on Friday, January 10th. BTIG Research reiterated a “buy” rating and set a $21.00 price target on shares of Lightspeed Commerce in a report on Thursday, September 26th. Royal Bank of Canada raised shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler lifted their target price on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.50.

Lightspeed Commerce Stock Performance

Shares of LSPD opened at $14.61 on Thursday. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $20.09. The stock has a market cap of $2.22 billion, a P/E ratio of -16.42 and a beta of 2.44. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $16.58 and a two-hundred day moving average of $14.92.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. The firm had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. As a group, research analysts predict that Lightspeed Commerce will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several hedge funds and other institutional investors have recently modified their holdings of LSPD. Toronto Dominion Bank lifted its holdings 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 acquiring an additional 3,482 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Lightspeed Commerce during the third quarter worth about $225,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Lightspeed Commerce in the third quarter worth about $412,000. Algert Global LLC acquired a new stake in shares of Lightspeed Commerce in the third quarter valued at about $448,000. Finally, Barclays PLC grew its stake in shares of Lightspeed Commerce by 8,355.1% in the third quarter. Barclays PLC now owns 29,170 shares of the company’s stock valued at $481,000 after buying an additional 28,825 shares in the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

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.