Bank of America Corp DE Sells 654,595 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Bank of America Corp DE decreased its holdings in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 57.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 488,398 shares of the company's stock after selling 654,595 shares during the period. Bank of America Corp DE owned approximately 0.32% of Lightspeed Commerce worth $7,438,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of 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 buying 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% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company's stock valued at $158,000 after acquiring an additional 2,168 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Lightspeed Commerce in the fourth quarter valued at $256,000. Scotia Capital Inc. grew its stake in Lightspeed Commerce by 12.0% during the 4th quarter. Scotia Capital Inc. now owns 19,225 shares of the company's stock worth $293,000 after buying an additional 2,053 shares during the last quarter. Finally, Amundi grew its stake in shares of Lightspeed Commerce by 20.5% in the 4th quarter. Amundi now owns 22,538 shares of the company's stock valued at $347,000 after purchasing an additional 3,838 shares during the last quarter. Institutional investors and hedge funds own 68.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $9.00 price objective (down from $10.00) on shares of Lightspeed Commerce in a report on Monday, April 14th. UBS Group reduced their price target on Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a report on Friday, February 7th. Stifel Nicolaus cut their price objective on Lightspeed Commerce from $15.00 to $12.00 and set a "hold" rating on the stock in a research note on Friday, March 28th. Piper Sandler dropped their price target on Lightspeed Commerce from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Finally, Scotiabank lowered their target price on Lightspeed Commerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $14.23.

Lightspeed Commerce Trading Down 0.7%

Shares of NYSE:LSPD traded down $0.07 during mid-day trading on Friday, reaching $10.61. 51,337 shares of the company's stock were exchanged, compared to its average volume of 920,172. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -13.26, a PEG ratio of 3.03 and a beta of 2.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. Lightspeed Commerce Inc. has a twelve month low of $7.34 and a twelve month high of $18.96. The business's fifty day moving average price is $9.69 and its 200-day moving average price is $12.97.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. The business had revenue of $253.42 million for the quarter, compared to the consensus estimate of $252.51 million. During the same period in the previous year, the firm earned $0.06 earnings per share. The company's revenue was up 10.1% on a year-over-year basis. On average, research analysts predict that Lightspeed Commerce Inc. will post 0.08 EPS for the current fiscal year.

Lightspeed Commerce 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.