Scotiabank Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $17.00

Lightspeed Commerce (NYSE:LSPD) had its target price cut by analysts at Scotiabank from $19.00 to $17.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 69.61% from the stock’s previous close.

A number of other equities research analysts have also recently commented on LSPD. Bank of America initiated coverage on shares of Lightspeed Commerce in a research note on Wednesday, February 19th. They set a “buy” rating and a $20.00 price objective on the stock. UBS Group dropped their price target on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Barclays decreased their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Piper Sandler dropped their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, February 6th. Finally, Wells Fargo & Company cut their price target on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.25.

Lightspeed Commerce Stock Performance

Shares of Lightspeed Commerce stock traded up $0.04 during trading on Tuesday, hitting $10.02. 116,128 shares of the company’s stock were exchanged, compared to its average volume of 917,996. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -12.50, a PEG ratio of 3.03 and a beta of 2.44. The business has a 50-day simple moving average of $12.93 and a 200-day simple moving average of $14.81. Lightspeed Commerce has a 52-week low of $9.90 and a 52-week high of $18.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts forecast that Lightspeed Commerce will post 0.08 EPS for the current year.

Institutional Trading of Lightspeed Commerce

A number of institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its position in shares of Lightspeed Commerce by 37,065.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company’s stock valued at $63,688,000 after buying an additional 4,170,557 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Lightspeed Commerce during the 4th quarter valued at about $24,334,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Lightspeed Commerce by 266.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company’s stock valued at $20,660,000 after acquiring an additional 986,100 shares during the last quarter. Intact Investment Management Inc. lifted its stake in Lightspeed Commerce by 94.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock worth $26,031,000 after purchasing an additional 829,577 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Lightspeed Commerce by 304.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 397,752 shares of the company’s stock worth $6,061,000 after purchasing an additional 299,482 shares in the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

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.