Lightspeed POS (NASDAQ:LSPD) Sees Unusually-High Trading Volume Following Analyst Upgrade

Thursday, July 22, 2021 | MarketBeat

Lightspeed POS Inc. (NASDAQ:LSPD) shares saw unusually-strong trading volume on Thursday after Royal Bank of Canada raised their price target on the stock from $95.00 to $98.00. Royal Bank of Canada currently has an outperform rating on the stock. Approximately 37,280 shares were traded during trading, a decline of 94% from the previous session's volume of 658,561 shares.The stock last traded at $84.09 and had previously closed at $82.74.

Several other analysts have also commented on LSPD. Morgan Stanley raised their price objective on Lightspeed POS from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, May 21st. BTIG Research reissued a "buy" rating and issued a C$115.00 price objective (up from C$104.00) on shares of Lightspeed POS in a report on Friday, May 21st. Scotiabank raised their price objective on Lightspeed POS from $81.00 to $83.00 and gave the company a "sector perform" rating in a report on Tuesday, June 8th. National Bankshares raised their price objective on Lightspeed POS from $90.00 to $110.00 and gave the company an "outperform" rating in a report on Tuesday, July 13th. Finally, Raymond James dropped their price objective on Lightspeed POS from C$114.00 to C$105.00 and set an "outperform" rating on the stock in a report on Friday, May 21st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Lightspeed POS presently has an average rating of "Buy" and a consensus target price of $96.77.

A number of institutional investors have recently made changes to their positions in the stock. Vista Equity Partners Management LLC purchased a new position in Lightspeed POS during the fourth quarter worth approximately $276,644,000. BlackRock Inc. lifted its position in Lightspeed POS by 871.5% during the first quarter. BlackRock Inc. now owns 1,874,843 shares of the company's stock worth $117,759,000 after buying an additional 1,681,862 shares in the last quarter. Capital International Investors lifted its position in Lightspeed POS by 47.7% during the first quarter. Capital International Investors now owns 1,817,650 shares of the company's stock worth $114,255,000 after buying an additional 586,614 shares in the last quarter. Franklin Resources Inc. lifted its position in Lightspeed POS by 0.5% during the first quarter. Franklin Resources Inc. now owns 945,845 shares of the company's stock worth $59,421,000 after buying an additional 4,682 shares in the last quarter. Finally, Morgan Stanley increased its stake in Lightspeed POS by 289.6% during the first quarter. Morgan Stanley now owns 927,198 shares of the company's stock worth $58,237,000 after acquiring an additional 689,205 shares during the last quarter. Hedge funds and other institutional investors own 54.44% of the company's stock.

The business has a 50 day simple moving average of $75.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 7.56 and a quick ratio of 7.55.

Lightspeed POS (NASDAQ:LSPD) last posted its earnings results on Thursday, May 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.16. The company had revenue of $82.40 million during the quarter, compared to analysts' expectations of $69.95 million. Lightspeed POS had a negative return on equity of 3.72% and a negative net margin of 56.05%. On average, research analysts anticipate that Lightspeed POS Inc. will post -0.63 earnings per share for the current fiscal year.

Lightspeed POS Company Profile (NASDAQ:LSPD)

Lightspeed POS Inc provides commerce enabling Software as a Service (SaaS) platform for small and midsize businesses, retailers, restaurants, and golf course operators in Canada, the United States, Germany, Australia, and internationally. Its SaaS platform enables customers to engage with consumers, manage operations, accept payments, etc.

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