Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Lightspeed Commerce by 9.8%, acquiring an additional 132,500 shares in the first quarter, bringing their total ownership to approximately 1,489,100 shares worth $13 million.
• Several analysts have raised their price targets for Lightspeed Commerce, with Benchmark setting a new target of $18.00 and labeling it a "buy," while the consensus rating remains a "Hold" with an average target price of $14.74.
• Lightspeed Commerce reported a revenue of $304.94 million for the quarter, exceeding expectations, although it reported an EPS of $0.06, which fell short of the consensus estimate of $0.11.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,489,100 shares of the company's stock after buying an additional 132,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.97% of Lightspeed Commerce worth $13,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bayesian Capital Management LP acquired a new position in Lightspeed Commerce in the fourth quarter worth approximately $165,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Lightspeed Commerce by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,197 shares of the company's stock worth $98,000 after buying an additional 1,124 shares during the last quarter. Tempus Wealth Planning LLC acquired a new position in Lightspeed Commerce in the first quarter worth approximately $119,000. Susquehanna Fundamental Investments LLC acquired a new position in Lightspeed Commerce in the fourth quarter worth approximately $256,000. Finally, Twinbeech Capital LP acquired a new position in Lightspeed Commerce in the fourth quarter worth approximately $261,000. Institutional investors own 68.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LSPD. Barclays lifted their price objective on shares of Lightspeed Commerce from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Truist Financial lifted their target price on shares of Lightspeed Commerce from $11.00 to $12.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Benchmark lifted their price objective on shares of Lightspeed Commerce from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Scotiabank boosted their target price on shares of Lightspeed Commerce from $10.00 to $12.00 and gave the stock a "sector perform" rating in a research report on Monday, July 28th. Finally, National Bankshares boosted their price objective on shares of Lightspeed Commerce from $13.00 to $15.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $14.74.

Lightspeed Commerce Trading Up 0.5%

NYSE:LSPD traded up $0.07 during trading hours on Friday, hitting $12.26. The stock had a trading volume of 137,023 shares, compared to its average volume of 917,611. Lightspeed Commerce Inc. has a one year low of $7.34 and a one year high of $18.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.60. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -2.72, a P/E/G ratio of 8.37 and a beta of 2.48. The business's 50 day moving average is $12.05 and its 200-day moving average is $11.32.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). Lightspeed Commerce had a positive return on equity of 0.33% and a negative net margin of 61.11%. The business had revenue of $304.94 million for the quarter, compared to analyst estimates of $287.28 million. During the same quarter in the previous year, the company posted $0.10 EPS. The business's revenue for the quarter was up 14.6% compared to the same quarter last year. Sell-side analysts anticipate that Lightspeed Commerce Inc. will post 0.08 EPS for the current fiscal year.

Lightspeed Commerce Company 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.