Morgan Stanley Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $9.50

Key Points

• Morgan Stanley lowered Lightspeed Commerce’s price target from $11.50 to $9.50 while maintaining an “equal weight” rating, implying roughly 1.5% downside from the stock’s $9.65 price.
• Analyst sentiment remains mixed, with the company receiving an overall “Hold” rating and an average price target of $11.39; targets from other firms range from $12 to $13.
• Lightspeed’s latest quarterly results exceeded expectations, with $0.13 in adjusted EPS versus $0.11 expected and revenue of $322.7 million, up 5.8% year over year. Institutional investors own approximately 68.7% of the company.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) had its price target decreased by analysts at Morgan Stanley from $11.50 to $9.50 in a research report issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price objective indicates a potential downside of 1.51% from the company's current price.

LSPD has been the topic of several other reports. JPMorgan Chase & Co. increased their target price on Lightspeed Commerce from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Friday, July 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Lightspeed Commerce in a research report on Friday, July 17th. Finally, Royal Bank Of Canada raised their price objective on Lightspeed Commerce from $10.00 to $13.00 and gave the stock an "outperform" rating in a report on Monday, August 31st. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $11.39.

Lightspeed Commerce Trading Down 2.3%

LSPD traded down $0.22 during midday trading on Monday, hitting $9.65. The company's stock had a trading volume of 67,418 shares, compared to its average volume of 953,477. The company has a current ratio of 3.55, a quick ratio of 3.45 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.33 billion, a P/E ratio of -13.81, a PEG ratio of 1.74 and a beta of 1.84. The firm has a 50-day moving average price of $10.22 and a two-hundred day moving average price of $9.68. 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 results on Thursday, July 30th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $322.70 million during the quarter, compared to analyst estimates of $310.58 million. Lightspeed Commerce had a negative net margin of 7.81% and a positive return on equity of 1.06%. Lightspeed Commerce's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, research analysts anticipate that Lightspeed Commerce will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

Several institutional investors and hedge funds have recently modified their holdings of the stock. Amundi purchased a new position in Lightspeed Commerce in the 1st quarter worth approximately $121,000. Squarepoint Ops LLC acquired a new position in shares of Lightspeed Commerce during the second quarter worth $128,000. ACT Capital Management LLC purchased a new position in shares of Lightspeed Commerce in the fourth quarter valued at $151,000. Pictet Asset Management Holding SA boosted its stake in shares of Lightspeed Commerce by 5.7% in the first quarter. Pictet Asset Management Holding SA now owns 26,557 shares of the company's stock valued at $237,000 after purchasing an additional 1,439 shares during the period. Finally, Purpose Unlimited Inc. acquired a new stake in Lightspeed Commerce during the 4th quarter valued at $247,000. Hedge funds and other institutional investors own 68.68% of the company's stock.

About Lightspeed Commerce

Lightspeed Commerce Inc is a Montreal-based commerce technology company that provides cloud-based point-of-sale and business management software for small and mid-sized businesses. Its platform is designed for retailers, restaurants, golf operators and other location-based businesses, helping them manage transactions, inventory, customers and day-to-day operations through integrated digital tools.

Lightspeed's products include point-of-sale systems, payment processing, inventory and order management, e-commerce capabilities, customer loyalty and marketing tools, analytics, and integrations with accounting and other business applications.

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