Lightspeed Commerce (NYSE:LSPD) Shares Gap Down on Disappointing Earnings

Lightspeed Commerce Inc. (NYSE:LSPD - Get Free Report) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $10.77, but opened at $10.40. Lightspeed Commerce shares last traded at $9.78, with a volume of 270,411 shares traded.

The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $253.42 million for the quarter, compared to the consensus estimate of $252.51 million. Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. Lightspeed Commerce's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Benchmark reduced their target price on shares of Lightspeed Commerce from $21.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. UBS Group lowered their target price on Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a research note on Friday, February 7th. Scotiabank dropped their target price on Lightspeed Commerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a report on Friday. Barclays decreased their price target on Lightspeed Commerce from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Morgan Stanley lowered their price objective on Lightspeed Commerce from $14.00 to $12.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.23.

Institutional Investors Weigh In On Lightspeed Commerce

Several institutional investors and hedge funds have recently modified their holdings of LSPD. Blue Trust Inc. increased its position in shares of Lightspeed Commerce by 214.4% during the fourth 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. boosted its position in Lightspeed Commerce by 27.4% during 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 in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Lightspeed Commerce during the 4th quarter worth approximately $165,000. Tempus Wealth Planning LLC bought a new position in shares of Lightspeed Commerce in the 1st quarter worth approximately $119,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Lightspeed Commerce during the fourth quarter valued at approximately $256,000. 68.68% of the stock is owned by hedge funds and other institutional investors.

Lightspeed Commerce Price Performance

The firm has a market cap of $1.65 billion, a PE ratio of -13.46, a price-to-earnings-growth ratio of 3.03 and a beta of 2.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The firm has a 50-day simple moving average of $9.67 and a 200 day simple moving average of $13.05.

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.