Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $16.00

Lightspeed Commerce (NYSE:LSPD) had its target price trimmed by Wells Fargo & Company from $17.00 to $16.00 in a research report released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on LSPD. BMO Capital Markets upped their price target on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. TD Securities lifted their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Benchmark increased their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Finally, Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.50.

Lightspeed Commerce Stock Performance

NYSE LSPD opened at $14.96 on Thursday. Lightspeed Commerce has a 52 week low of $11.01 and a 52 week high of $20.09. The company has a 50 day moving average price of $16.62 and a 200 day moving average price of $14.92. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. The company had revenue of $277.18 million during the quarter, compared to analysts’ expectations of $273.90 million. Equities research analysts predict that Lightspeed Commerce will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in LSPD. Dimensional Fund Advisors LP boosted its stake in shares of Lightspeed Commerce by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,205,168 shares of the company’s stock worth $30,189,000 after acquiring an additional 64,944 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Lightspeed Commerce by 10.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 206,700 shares of the company’s stock valued at $2,825,000 after acquiring an additional 20,000 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Lightspeed Commerce by 345,464.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock worth $5,535,000 after purchasing an additional 404,193 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Lightspeed Commerce by 4.9% during the 2nd quarter. Bank of Montreal Can now owns 2,059,914 shares of the company’s stock worth $28,281,000 after purchasing an additional 95,832 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Lightspeed Commerce by 306.5% during the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after purchasing an additional 608,661 shares during 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.