Lightspeed Commerce (NYSE:LSPD) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $20.00 price target on the stock.

A number of other equities analysts have also weighed in on LSPD. Piper Sandler cut their price objective on shares of Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Royal Bank of Canada raised Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. Scotiabank dropped their target price on Lightspeed Commerce from $21.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Friday, February 7th. Finally, Barclays decreased their price target on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Eight investment analysts have rated the stock with 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 company presently has an average rating of “Moderate Buy” and an average price target of $18.39.

Lightspeed Commerce Trading Down 2.1 %

Shares of LSPD opened at $13.16 on Wednesday. Lightspeed Commerce has a 1-year low of $11.01 and a 1-year high of $18.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The firm has a 50 day simple moving average of $14.71 and a 200-day simple moving average of $15.01. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -16.44, a price-to-earnings-growth ratio of 3.07 and a beta of 2.42.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. Equities analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LSPD. CIBC Asset Management Inc increased its position in shares of Lightspeed Commerce by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock worth $2,620,000 after acquiring an additional 679 shares in the last quarter. Addenda Capital Inc. lifted its holdings in shares of Lightspeed Commerce by 2.0% during the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock valued at $710,000 after acquiring an additional 931 shares in the last quarter. Blue Trust Inc. boosted its position in Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after purchasing an additional 1,025 shares during the period. PNC Financial Services Group Inc. increased its holdings in Lightspeed Commerce by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in Lightspeed Commerce by 12.0% in the fourth quarter. Scotia Capital Inc. now owns 19,225 shares of the company’s stock valued at $293,000 after purchasing an additional 2,053 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.

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.