Scotiabank Downgrades Lightspeed Commerce (NYSE:LSPD) to Sector Perform

Lightspeed Commerce (NYSE:LSPD - Get Free Report) was downgraded by stock analysts at Scotiabank from an "outperform" rating to a "sector perform" rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $17.00. Scotiabank's target price points to a potential upside of 8.96% from the stock's current price.

A number of other research firms also recently weighed in on LSPD. Wells Fargo & Company dropped their target price on Lightspeed Commerce from $13.00 to $11.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Benchmark cut their target price on Lightspeed Commerce from $21.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Barclays reduced their price objective on shares of Lightspeed Commerce from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Piper Sandler decreased their price target on shares of Lightspeed Commerce from $13.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, Royal Bank of Canada reduced their target price on Lightspeed Commerce from $20.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.29.

Lightspeed Commerce Stock Performance

NYSE:LSPD traded down $0.15 during trading hours on Monday, hitting $10.10. 792,455 shares of the company traded hands, compared to its average volume of 988,030. The firm has a 50-day moving average of $10.31 and a 200 day moving average of $13.83. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -12.63, a P/E/G ratio of 3.03 and a beta of 2.52. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a twelve month low of $7.34 and a twelve month high of $18.96.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. On average, analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current year.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company's stock valued at $25,000 after purchasing an additional 1,025 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Lightspeed Commerce by 27.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company's stock worth $158,000 after acquiring an additional 2,168 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Lightspeed Commerce in the fourth quarter worth $165,000. Susquehanna Fundamental Investments LLC purchased a new position in Lightspeed Commerce during the 4th quarter valued at about $256,000. Finally, Twinbeech Capital LP purchased a new stake in Lightspeed Commerce in the fourth quarter worth $261,000. 68.68% of the stock is currently owned by institutional investors.

Lightspeed Commerce Company Profile

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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