Lightspeed Commerce (NYSE:LSPD) Stock Gets Price Target Increase from Truist Financial

Key Points

• Truist Financial raised its Lightspeed Commerce price target from $10 to $11 while maintaining a “hold” rating, implying roughly 1% downside from the stock’s $11.11 price.
• Analyst sentiment remains mixed but centered on “Hold”: four analysts rate the stock a Buy, nine a Hold and three a Sell, with an average price target of $11.35.
• Lightspeed’s latest quarter exceeded expectations, with EPS of $0.13 versus $0.11 expected and revenue of $322.7 million, up 5.8% year over year; institutional investors own 68.68% of the company.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) had its target price increased by equities researchers at Truist Financial from $10.00 to $11.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "hold" rating on the stock. Truist Financial's target price suggests a potential downside of 0.97% from the stock's current price.

LSPD has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on Lightspeed Commerce from $11.00 to $12.00 and gave the stock an "underweight" rating in a research note on Friday, July 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Lightspeed Commerce in a research note on Thursday, October 15th. Morgan Stanley reduced their target price on Lightspeed Commerce from $11.50 to $9.50 and set an "equal weight" rating for the company in a report on Monday, September 28th. Finally, Royal Bank Of Canada upped their target price on Lightspeed Commerce from $10.00 to $13.00 and gave the stock an "outperform" rating in a research report on Monday, August 31st. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $11.35.

Lightspeed Commerce Stock Down 0.9%

Shares of Lightspeed Commerce stock traded down $0.10 during midday trading on Friday, reaching $11.11. 243,482 shares of the company's stock traded hands, compared to its average volume of 945,229. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -15.89, a price-to-earnings-growth ratio of 1.58 and a beta of 1.84. The company's 50 day simple moving average is $10.25 and its 200 day simple moving average is $9.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.45 and a current ratio of 3.55. Lightspeed Commerce has a 52 week low of $7.83 and a 52 week high of $13.72.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Lightspeed Commerce had a negative net margin of 7.81% and a positive return on equity of 1.06%. The firm had revenue of $322.70 million during the quarter, compared to analysts' expectations of $310.58 million. During the same period in the prior year, the company posted $0.06 earnings per share. Lightspeed Commerce's revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts expect that Lightspeed Commerce will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LSPD. Pale Fire Capital SE acquired a new position in Lightspeed Commerce in the 1st quarter valued at approximately $49,500,000. Royal Bank of Canada boosted its position in shares of Lightspeed Commerce by 64.4% during the 1st quarter. Royal Bank of Canada now owns 2,226,453 shares of the company's stock valued at $19,950,000 after acquiring an additional 872,131 shares in the last quarter. Renaissance Technologies LLC increased its stake in Lightspeed Commerce by 1,221.5% in the first quarter. Renaissance Technologies LLC now owns 406,783 shares of the company's stock valued at $3,645,000 after acquiring an additional 376,000 shares during the period. Louisbourg Investments Inc. increased its stake in Lightspeed Commerce by 17.0% in the third quarter. Louisbourg Investments Inc. now owns 676,164 shares of the company's stock valued at $6,624,000 after acquiring an additional 98,184 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Lightspeed Commerce in the second quarter worth about $540,000. Institutional investors and hedge funds own 68.68% of the company's stock.

Lightspeed Commerce Company Profile

Lightspeed Commerce Inc is a cloud-based commerce technology company that provides point-of-sale and business management software for small and midsized businesses. Its platform is designed for retailers, restaurants, hospitality operators and golf businesses, helping them manage sales, payments, inventory, customer relationships and day-to-day operations through integrated digital tools.

Lightspeed's products include point-of-sale systems, payment processing, e-commerce capabilities, inventory and order management, analytics, accounting integrations, customer loyalty features and tools for managing restaurants and golf courses.

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