Lightspeed Commerce (NYSE:LSPD) Price Target Raised to $16.00 at TD Securities

Lightspeed Commerce (NYSE:LSPD - Get Free Report) had its price target lifted by equities research analysts at TD Securities from $14.00 to $16.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD Securities' price objective would suggest a potential upside of 3.73% from the stock's current price.

Several other research firms have also recently commented on LSPD. JPMorgan Chase & Co. dropped their target price on shares of Lightspeed Commerce from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Friday. Scotiabank raised their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a "sector outperform" rating in a research note on Friday. National Bank Financial lowered shares of Lightspeed Commerce from an "outperform market weight" rating to a "sector perform market weight" rating in a research note on Thursday, February 8th. BMO Capital Markets raised their price target on shares of Lightspeed Commerce from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, National Bankshares raised their price target on shares of Lightspeed Commerce from $15.00 to $16.00 and gave the stock a "sector perform" rating in a research note on Friday. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.61.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock traded up $0.33 during mid-day trading on Friday, hitting $15.43. 2,424,802 shares of the stock were exchanged, compared to its average volume of 1,352,036. Lightspeed Commerce has a 12 month low of $12.23 and a 12 month high of $21.71. The company has a 50-day simple moving average of $13.53 and a 200 day simple moving average of $15.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.09 and a current ratio of 6.21. The company has a market capitalization of $2.36 billion, a P/E ratio of -11.52 and a beta of 2.34.

Hedge Funds Weigh In On Lightspeed Commerce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Lightspeed Commerce in the first quarter worth approximately $35,000. Conestoga Capital Advisors LLC bought a new position in shares of Lightspeed Commerce in the first quarter worth approximately $141,000. Duality Advisers LP bought a new position in shares of Lightspeed Commerce in the fourth quarter worth approximately $276,000. New York State Common Retirement Fund lifted its stake in shares of Lightspeed Commerce by 13.9% in the third quarter. New York State Common Retirement Fund now owns 20,350 shares of the company's stock worth $286,000 after buying an additional 2,482 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its stake in shares of Lightspeed Commerce by 44.1% in the third quarter. Cidel Asset Management Inc. now owns 25,870 shares of the company's stock worth $365,000 after buying an additional 7,920 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company's stock.

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.