Hillsdale Investment Management Inc. Reduces Position in Lightspeed Commerce Inc. $LSPD

Key Points

• Hillsdale Investment Management cut its position in Lightspeed Commerce by 98.8% in the first quarter, leaving it with just 3,800 shares worth about $34,000.
• Other institutional investors were mixed on the stock: Goldman Sachs significantly increased its stake, while hedge funds and institutions still own 68.68% of Lightspeed Commerce shares overall.
• Analysts remain cautious on LSPD, with an average rating of “Hold” and an average price target of $11.27, even after the company reported revenue growth of 14.8% year over year in its latest quarter.

Hillsdale Investment Management Inc. decreased its stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 98.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the company's stock after selling 323,288 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Lightspeed Commerce were worth $34,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in shares of Lightspeed Commerce by 151.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company's stock worth $18,803,000 after buying an additional 1,295,469 shares during the period. Geode Capital Management LLC raised its stake in Lightspeed Commerce by 8.1% in the 2nd quarter. Geode Capital Management LLC now owns 78,301 shares of the company's stock worth $922,000 after acquiring an additional 5,834 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Lightspeed Commerce by 106.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company's stock worth $122,000 after acquiring an additional 5,354 shares during the last quarter. Norges Bank acquired a new stake in Lightspeed Commerce during the 2nd quarter worth about $743,000. Finally, Invesco Ltd. lifted its position in Lightspeed Commerce by 2.9% during the 2nd quarter. Invesco Ltd. now owns 29,567 shares of the company's stock worth $346,000 after acquiring an additional 835 shares during the period. Hedge funds and other institutional investors own 68.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LSPD shares. Bank of America assumed coverage on Lightspeed Commerce in a report on Tuesday, May 19th. They issued an "underperform" rating and a $10.00 price objective on the stock. Morgan Stanley decreased their target price on Lightspeed Commerce from $13.50 to $11.50 and set an "equal weight" rating for the company in a report on Friday, May 22nd. Truist Financial dropped their target price on Lightspeed Commerce from $11.00 to $10.00 and set a "hold" rating on the stock in a research report on Thursday, May 28th. Royal Bank Of Canada cut their price target on shares of Lightspeed Commerce from $13.00 to $10.00 and set an "outperform" rating on the stock in a report on Friday, May 22nd. Finally, UBS Group decreased their price objective on shares of Lightspeed Commerce from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Lightspeed Commerce presently has an average rating of "Hold" and an average target price of $11.27.

Lightspeed Commerce Price Performance

Shares of LSPD opened at $10.38 on Friday. The business's 50-day moving average is $9.62 and its two-hundred day moving average is $9.79. The company has a market capitalization of $1.43 billion, a P/E ratio of -10.07, a P/E/G ratio of 1.96 and a beta of 1.88. Lightspeed Commerce Inc. has a fifty-two week low of $7.83 and a fifty-two week high of $14.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.18 and a current ratio of 4.28.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Lightspeed Commerce had a negative net margin of 11.77% and a positive return on equity of 0.32%. The company had revenue of $290.80 million during the quarter, compared to analyst estimates of $282.87 million. Lightspeed Commerce's revenue was up 14.8% on a year-over-year basis. Research analysts predict that Lightspeed Commerce Inc. will post 0.3 earnings per share for the current year.

About Lightspeed Commerce

Lightspeed Commerce Inc is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.

The company's product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.