Lightspeed Commerce (NYSE:LSPD) Stock Price Down 5.1% – Should You Sell?

Lightspeed Commerce Inc. (NYSE:LSPD)’s stock price traded down 5.1% during mid-day trading on Tuesday . The company traded as low as $11.20 and last traded at $11.52. 803,478 shares were traded during trading, a decline of 3% from the average session volume of 827,655 shares. The stock had previously closed at $12.14.

Wall Street Analysts Forecast Growth

LSPD has been the subject of several recent research reports. Bank of America began coverage on Lightspeed Commerce in a research note on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada raised shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. Benchmark upped their price target on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Finally, 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 report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.39.

Lightspeed Commerce Stock Down 5.1 %

The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -14.41, a P/E/G ratio of 3.03 and a beta of 2.42. 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’s fifty day moving average price is $14.33 and its 200-day moving average price is $15.05.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. Sell-side analysts expect that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Several hedge funds have recently added to or reduced their stakes in LSPD. Harbor Capital Advisors Inc. increased its position in Lightspeed Commerce by 151.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 227,381 shares of the company’s stock valued at $3,750,000 after acquiring an additional 137,085 shares during the period. Intact Investment Management Inc. grew its stake in shares of Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after purchasing an additional 869,090 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Lightspeed Commerce in the third quarter valued at $225,000. LMR Partners LLP bought a new position in Lightspeed Commerce during the 3rd quarter worth $2,441,000. Finally, PCJ Investment Counsel Ltd. acquired a new position in Lightspeed Commerce during the 3rd quarter worth about $1,517,000. 68.68% of the stock is currently 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.