Lightspeed Commerce (TSE:LSPD) Stock Price Up 0.9% - Here's What Happened

Lightspeed Commerce Inc. (TSE:LSPD - Get Free Report)'s share price rose 0.9% during mid-day trading on Wednesday . The company traded as high as C$15.18 and last traded at C$15.16. Approximately 578,432 shares traded hands during trading, a decline of 17% from the average daily volume of 695,587 shares. The stock had previously closed at C$15.02.

Wall Street Analyst Weigh In

LSPD has been the subject of a number of recent analyst reports. Scotiabank dropped their target price on shares of Lightspeed Commerce from C$21.00 to C$19.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. ATB Capital cut shares of Lightspeed Commerce from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from C$26.00 to C$17.00 in a research report on Thursday, March 27th. Stifel Nicolaus lowered their price objective on shares of Lightspeed Commerce from C$18.00 to C$15.00 and set a "hold" rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. cut shares of Lightspeed Commerce from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from C$14.00 to C$13.00 in a research report on Monday, April 14th. Finally, Cormark lowered their price objective on shares of Lightspeed Commerce from C$24.00 to C$21.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of C$18.30.

Lightspeed Commerce Stock Performance

The stock's 50-day moving average price is C$13.59 and its 200 day moving average price is C$18.79. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.10 and a quick ratio of 6.05. The firm has a market cap of C$1.64 billion, a P/E ratio of -13.42 and a beta of 2.69.

Insider Buying and Selling at Lightspeed Commerce

In other news, Senior Officer Asha Hotchandani (Bakshani) sold 22,489 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of C$15.72, for a total value of C$353,527.08. Corporate insiders own 9.93% of the company's stock.

About Lightspeed Commerce

Lightspeed Commerce Inc provides an omni-channel commerce-enabling SaaS platform. Its software platform provides customers with the functionality it needs to engage with consumers, manage their operations, accepts payments, and grow their business. The company sells its platform through a direct sales force in the United States, Canada, Netherlands, Australia, and other countries.