Scotiabank Lowers Lightspeed Commerce (NYSE:LSPD) Price Target to $10.00

Lightspeed Commerce (NYSE:LSPD - Get Free Report) had its price objective dropped by equities research analysts at Scotiabank from $11.00 to $10.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's target price indicates a potential downside of 5.35% from the stock's previous close.

Several other analysts also recently issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Lightspeed Commerce from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. UBS Group lowered their price target on shares of Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a report on Friday, February 7th. Bank of America lowered their target price on Lightspeed Commerce from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Barclays lowered their target price on Lightspeed Commerce from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Finally, National Bankshares lowered their target price on Lightspeed Commerce from $15.00 to $13.10 and set a "sector perform" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $14.23.

Lightspeed Commerce Trading Down 2.8%

Shares of Lightspeed Commerce stock traded down $0.31 during trading hours on Friday, hitting $10.57. The company's stock had a trading volume of 543,943 shares, compared to its average volume of 926,530. Lightspeed Commerce has a 1-year low of $7.34 and a 1-year high of $18.96. The business has a fifty day moving average of $9.67 and a 200 day moving average of $13.03. The company has a market capitalization of $1.62 billion, a PE ratio of -13.21, a P/E/G ratio of 3.03 and a beta of 2.49. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. The company had revenue of $253.42 million during the quarter, compared to analyst estimates of $252.51 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Lightspeed Commerce by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,372,421 shares of the company's stock worth $47,004,000 after purchasing an additional 39,115 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Lightspeed Commerce by 37,065.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company's stock worth $63,688,000 after buying an additional 4,170,557 shares during the last quarter. Wishbone Management LP bought a new position in shares of Lightspeed Commerce in the 1st quarter worth about $32,156,000. Nuveen Asset Management LLC lifted its holdings in Lightspeed Commerce by 0.8% in the fourth quarter. Nuveen Asset Management LLC now owns 3,149,919 shares of the company's stock worth $48,009,000 after acquiring an additional 24,891 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Lightspeed Commerce by 151.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company's stock worth $18,803,000 after acquiring an additional 1,295,469 shares during the last quarter. 68.68% of the stock is currently owned by institutional investors.

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.