Lightspeed Commerce (NYSE:LSPD) Stock Breaks Above 50-Day Moving Average After Analyst Downgrade

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) crossed above its 50-day moving average during trading on Monday after Truist Financial raised their price target on the stock from $10.00 to $11.00. The stock has a 50-day moving average of $10.34 and traded as high as $10.44. Truist Financial currently has a hold rating on the stock. Lightspeed Commerce shares last traded at $10.3550, with a volume of 575,893 shares traded.

Several other research firms have also recently weighed in on LSPD. Morgan Stanley dropped their price target on shares of Lightspeed Commerce from $11.50 to $9.50 and set an “equal weight” rating for the company in a research note on Monday, September 28th. Royal Bank Of Canada upped their price objective on Lightspeed Commerce from $10.00 to $13.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lightspeed Commerce in a research report on Thursday, October 15th. Finally, JPMorgan Chase & Co. increased their price objective on Lightspeed Commerce from $11.00 to $12.00 and gave the stock an “underweight” rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.27.

Institutional Investors Weigh In On Lightspeed Commerce

A number of institutional investors have recently made changes to their positions in the stock. ACT Capital Partners L.P. acquired a new stake in Lightspeed Commerce in the 3rd quarter valued at approximately $122,000. Russell Investments Group Ltd. lifted its stake in Lightspeed Commerce by 33.2% during the third quarter. Russell Investments Group Ltd. now owns 35,945 shares of the company’s stock worth $352,000 after purchasing an additional 8,956 shares in the last quarter. State of Wyoming acquired a new position in Lightspeed Commerce during the third quarter worth $66,000. Louisbourg Investments Inc. boosted its position in shares of Lightspeed Commerce by 17.0% during the third quarter. Louisbourg Investments Inc. now owns 676,164 shares of the company’s stock worth $6,624,000 after buying an additional 98,184 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Lightspeed Commerce during the second quarter worth $128,000. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.45. The stock has a 50 day moving average price of $10.34 and a two-hundred day moving average price of $9.84. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -21.13, a PEG ratio of 1.80 and a beta of 1.85.

Lightspeed Commerce (NYSE:LSPD) last posted its earnings results on Thursday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Lightspeed Commerce had a positive return on equity of 1.06% and a negative net margin of 7.81%. The firm had revenue of $323.79 million for the quarter, compared to analyst estimates of $321.09 million. During the same quarter in the prior year, the company earned $0.16 EPS. Lightspeed Commerce’s revenue was up 1.5% on a year-over-year basis. As a group, analysts expect that Lightspeed Commerce Inc. will post 0.21 EPS for the current year.

About Lightspeed Commerce

Lightspeed Commerce Inc is a cloud-based commerce technology company that provides point-of-sale and business management software for small and midsized businesses. Its platform is designed for retailers, restaurants, hospitality operators and golf businesses, helping them manage sales, payments, inventory, customer relationships and day-to-day operations through integrated digital tools.

Lightspeed’s products include point-of-sale systems, payment processing, e-commerce capabilities, inventory and order management, analytics, accounting integrations, customer loyalty features and tools for managing restaurants and golf courses.