BMO Capital Markets Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $18.00

Lightspeed Commerce (NYSE:LSPD) had its target price cut by stock analysts at BMO Capital Markets from $20.00 to $18.00 in a report released on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 50.25% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Scotiabank lifted their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the company a “sector outperform” rating in a report on Friday, May 17th. Wells Fargo & Company cut their price objective on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Piper Sandler cut their price objective on shares of Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday. Bank of America upped their price target on shares of Lightspeed Commerce from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. Finally, UBS Group increased their price objective on shares of Lightspeed Commerce from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.25.

Lightspeed Commerce Stock Down 9.0 %

LSPD traded down $1.19 during trading hours on Friday, reaching $11.98. 1,120,673 shares of the stock traded hands, compared to its average volume of 1,211,140. The firm’s fifty day simple moving average is $14.06 and its two-hundred day simple moving average is $14.46. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -11.06 and a beta of 2.33. Lightspeed Commerce has a fifty-two week low of $11.82 and a fifty-two week high of $21.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.34 and a quick ratio of 6.23.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.16. The company had revenue of $230.22 million during the quarter, compared to analyst estimates of $224.08 million. Lightspeed Commerce had a negative net margin of 18.03% and a negative return on equity of 2.02%. As a group, analysts forecast that Lightspeed Commerce will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LSPD. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Lightspeed Commerce in the 1st quarter worth approximately $35,000. Conestoga Capital Advisors LLC purchased a new stake in Lightspeed Commerce in the 1st quarter worth approximately $141,000. Duality Advisers LP purchased a new stake in Lightspeed Commerce in the 4th quarter worth approximately $276,000. Addenda Capital Inc. lifted its position in Lightspeed Commerce by 5.3% in the 1st quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock worth $560,000 after buying an additional 1,990 shares in the last quarter. Finally, Boulder Hill Capital Management LP purchased a new stake in Lightspeed Commerce in the 1st quarter worth approximately $811,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

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.