Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $10.00 by Analysts at Scotiabank

Lightspeed Commerce (NYSE:LSPD) had its price objective reduced by stock analysts at Scotiabank from $12.00 to $10.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 16.89% from the stock’s previous close.

Several other research firms have also issued reports on LSPD. Benchmark reduced their price target on Lightspeed Commerce from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets reduced their price target on Lightspeed Commerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Monday. Royal Bank Of Canada dropped their price objective on Lightspeed Commerce from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lightspeed Commerce in a report on Tuesday, April 21st. Finally, Bank of America assumed coverage on Lightspeed Commerce in a report on Tuesday, May 19th. They issued an “underperform” rating and a $10.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.50.

Lightspeed Commerce Trading Down 0.1%

LSPD traded down $0.01 on Monday, hitting $8.56. 1,513,030 shares of the company were exchanged, compared to its average volume of 1,203,846. The firm has a fifty day simple moving average of $9.06 and a two-hundred day simple moving average of $10.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.44 and a current ratio of 4.52. Lightspeed Commerce has a 12 month low of $7.83 and a 12 month high of $14.34. The stock has a market capitalization of $1.17 billion, a PE ratio of -8.31, a price-to-earnings-growth ratio of 1.88 and a beta of 1.92.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, May 21st. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Lightspeed Commerce had a positive return on equity of 0.32% and a negative net margin of 11.77%.The company had revenue of $290.80 million for the quarter, compared to the consensus estimate of $282.87 million. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts expect that Lightspeed Commerce will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LSPD. Goldman Sachs Group Inc. raised its stake in Lightspeed Commerce by 151.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company’s stock valued at $18,803,000 after buying an additional 1,295,469 shares during the last quarter. Geode Capital Management LLC raised its stake in Lightspeed Commerce by 8.1% during the second quarter. Geode Capital Management LLC now owns 78,301 shares of the company’s stock valued at $922,000 after buying an additional 5,834 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Lightspeed Commerce by 106.4% during the second quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company’s stock valued at $122,000 after buying an additional 5,354 shares during the last quarter. Norges Bank purchased a new position in Lightspeed Commerce during the second quarter valued at $743,000. Finally, Invesco Ltd. raised its stake in Lightspeed Commerce by 2.9% during the second quarter. Invesco Ltd. now owns 29,567 shares of the company’s stock valued at $346,000 after buying an additional 835 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 is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.

The company’s product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.