Pale Fire Capital SE Takes Position in Lightspeed Commerce Inc. $LSPD

Key Points

• Pale Fire Capital SE disclosed a new first-quarter position in Lightspeed Commerce, buying 5,524,591 shares worth about $49.5 million. The stake represents 4.2% of the fund’s portfolio and about 4.02% of Lightspeed’s shares.
• Institutional interest in Lightspeed appears strong, with several major firms also adding to or initiating positions, and 68.68% of the stock is now held by hedge funds and other institutions.
• Lightspeed reported quarterly revenue of $290.8 million, up 14.8% year over year, but earnings of $0.08 per share missed analyst expectations. The stock also carries a mixed analyst outlook, with an average rating of Hold and an average price target of $11.27.

Pale Fire Capital SE purchased a new position in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,524,591 shares of the company's stock, valued at approximately $49,500,000. Lightspeed Commerce comprises 4.2% of Pale Fire Capital SE's portfolio, making the stock its 8th biggest holding. Pale Fire Capital SE owned approximately 4.02% of Lightspeed Commerce as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of America Corp DE boosted its position in Lightspeed Commerce by 846.0% during the second quarter. Bank of America Corp DE now owns 1,873,942 shares of the company's stock valued at $21,944,000 after purchasing an additional 1,675,853 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Lightspeed Commerce by 151.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company's stock worth $18,803,000 after purchasing an additional 1,295,469 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Lightspeed Commerce by 17.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,900,930 shares of the company's stock worth $47,066,000 after purchasing an additional 581,900 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Lightspeed Commerce during the 2nd quarter worth about $4,473,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Lightspeed Commerce during the 4th quarter worth about $3,953,000. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

Lightspeed Commerce Stock Performance

LSPD opened at $9.90 on Friday. The company has a market cap of $1.36 billion, a PE ratio of -9.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.88. The stock has a 50-day moving average of $9.72 and a 200-day moving average of $9.72. Lightspeed Commerce Inc. has a 52-week low of $7.83 and a 52-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 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $282.87 million. Lightspeed Commerce's revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that Lightspeed Commerce Inc. will post 0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bank of America initiated coverage on Lightspeed Commerce in a research note on Tuesday, May 19th. They issued an "underperform" rating and a $10.00 price target for the company. UBS Group cut their price objective on shares of Lightspeed Commerce from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lightspeed Commerce in a research note on Friday, July 17th. BMO Capital Markets decreased their target price on shares of Lightspeed Commerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Monday, May 25th. Finally, National Bank Financial dropped their price target on shares of Lightspeed Commerce from $15.00 to $11.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Lightspeed Commerce has an average rating of "Hold" and an average price target of $11.27.

Lightspeed Commerce Profile

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.

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