Westfield Capital Management Co. LP Trims Stake in Lightspeed Commerce Inc. (NYSE:LSPD)

Key Points

• Westfield Capital Management Co. LP significantly reduced its stake in Lightspeed Commerce Inc. by 99.4% during the first quarter, selling over 3.7 million shares.
• Despite a 14.6% year-over-year revenue increase, Lightspeed reported a loss in earnings per share, missing analyst expectations.
• Analyst ratings vary, with a consensus of "Hold" and an average target price of $14.74, reflecting a mix of buy and sell recommendations from various firms.

Westfield Capital Management Co. LP trimmed its position in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 99.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,665 shares of the company's stock after selling 3,702,418 shares during the quarter. Westfield Capital Management Co. LP's holdings in Lightspeed Commerce were worth $190,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tempus Wealth Planning LLC purchased a new position in Lightspeed Commerce during the first quarter valued at approximately $119,000. BIT Capital GmbH purchased a new position in Lightspeed Commerce during the first quarter valued at approximately $150,000. Bayesian Capital Management LP purchased a new position in Lightspeed Commerce during the fourth quarter valued at approximately $165,000. Susquehanna Fundamental Investments LLC purchased a new position in Lightspeed Commerce during the fourth quarter valued at approximately $256,000. Finally, ANTIPODES PARTNERS Ltd purchased a new position in Lightspeed Commerce during the first quarter valued at approximately $259,000. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

Lightspeed Commerce Trading Down 2.3%

NYSE LSPD traded down $0.28 on Friday, reaching $12.05. 721,875 shares of the company were exchanged, compared to its average volume of 692,716. The business's fifty day moving average price is $11.96 and its 200 day moving average price is $11.36. The stock has a market capitalization of $1.66 billion, a P/E ratio of -2.68, a price-to-earnings-growth ratio of 8.15 and a beta of 2.48. The company has a current ratio of 4.60, a quick ratio of 4.50 and a debt-to-equity ratio of 0.01. Lightspeed Commerce Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $18.96.

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

Analysts Set New Price Targets

LSPD has been the subject of several recent research reports. Barclays lifted their price target on Lightspeed Commerce from $12.00 to $15.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Truist Financial lifted their price target on Lightspeed Commerce from $11.00 to $12.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Benchmark lifted their price target on Lightspeed Commerce from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, August 1st. National Bankshares lifted their price target on Lightspeed Commerce from $13.00 to $15.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus boosted their price objective on Lightspeed Commerce from $12.00 to $14.00 and gave the company a "hold" rating in a research report on Friday, August 1st. One equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $14.74.

About Lightspeed Commerce

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.