Benchmark Initiates Coverage on Lightspeed Commerce (NYSE:LSPD)

Benchmark started coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $20.00 target price on the stock.

LSPD has been the subject of several other reports. Wells Fargo & Company cut their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set an equal weight rating for the company in a research report on Wednesday, July 31st. BMO Capital Markets cut their target price on shares of Lightspeed Commerce from $20.00 to $18.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Cibc World Mkts upgraded shares of Lightspeed Commerce from a hold rating to a strong-buy rating in a research report on Friday, May 24th. Royal Bank of Canada downgraded shares of Lightspeed Commerce from a moderate buy rating to a strong sell rating in a research note on Thursday, August 15th. Finally, TD Securities lowered their price target on shares of Lightspeed Commerce from $16.00 to $15.00 and set a hold rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $18.65.

Lightspeed Commerce Stock Down 1.6 %

LSPD opened at $13.80 on Tuesday. The company has a fifty day moving average price of $13.03 and a 200-day moving average price of $13.59. The firm has a market capitalization of $2.11 billion, a P/E ratio of -12.90, a price-to-earnings-growth ratio of 62.94 and a beta of 2.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.19 and a quick ratio of 6.06. Lightspeed Commerce has a one year low of $11.01 and a one year high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, August 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Lightspeed Commerce had a negative net margin of 15.55% and a negative return on equity of 0.99%. The company had revenue of $266.10 million during the quarter, compared to analyst estimates of $258.58 million. During the same period in the previous year, the business earned ($0.14) earnings per share. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities research analysts expect that Lightspeed Commerce will post 0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership increased its position in shares of Lightspeed Commerce by 13.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,297,686 shares of the company’s stock valued at $111,232,000 after buying an additional 627,796 shares during the period. Vanguard Group Inc. increased its position in shares of Lightspeed Commerce by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,099,482 shares of the company’s stock valued at $71,699,000 after buying an additional 62,394 shares during the period. Westfield Capital Management Co. LP purchased a new position in shares of Lightspeed Commerce during the first quarter valued at about $34,984,000. Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 64,944 shares during the period. Finally, Bank of Montreal Can grew its holdings in Lightspeed Commerce by 4.9% in the second 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 period. 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.