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

Lightspeed Commerce (NYSE:LSPD - Get Free Report) had its price objective reduced by equities research analysts at Scotiabank from $11.00 to $10.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's target price would suggest a potential downside of 4.63% from the stock's previous close.

Several other research firms have also recently commented on LSPD. Barclays dropped their target price on shares of Lightspeed Commerce from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Royal Bank of Canada dropped their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Morgan Stanley reduced their price target on shares of 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. Atb Cap Markets lowered Lightspeed Commerce from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, BMO Capital Markets dropped their price target on Lightspeed Commerce from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lightspeed Commerce presently has an average rating of "Hold" and a consensus price target of $14.23.

Lightspeed Commerce Price Performance

LSPD stock traded up $0.61 during midday trading on Friday, reaching $10.49. 451,606 shares of the stock were exchanged, compared to its average volume of 936,964. The company has a fifty day moving average price of $9.66 and a 200 day moving average price of $13.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. Lightspeed Commerce has a 52 week low of $7.34 and a 52 week high of $18.96. The stock has a market capitalization of $1.60 billion, a PE ratio of -13.11, a P/E/G ratio of 3.03 and a beta of 2.49.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $253.42 million for the quarter, compared to the consensus estimate of $252.51 million. During the same period last year, the company posted $0.06 EPS. The business's revenue was up 10.1% compared to the same quarter last year. As a group, analysts expect that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. PCJ Investment Counsel Ltd. increased its stake in shares of Lightspeed Commerce by 33.8% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company's stock worth $1,874,000 after purchasing an additional 31,060 shares in the last quarter. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Lightspeed Commerce during the fourth quarter worth $579,000. AGF Management Ltd. acquired a new stake in shares of Lightspeed Commerce in the fourth quarter valued at about $1,295,000. Arrowstreet Capital Limited Partnership grew its stake in Lightspeed Commerce by 37,065.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company's stock valued at $63,688,000 after acquiring an additional 4,170,557 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Lightspeed Commerce by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 5,333,306 shares of the company's stock worth $81,319,000 after purchasing an additional 70,324 shares in the last quarter. Institutional investors and hedge funds 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.

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