Royal Bank of Canada Buys 872,131 Shares of Lightspeed Commerce Inc. $LSPD

Royal Bank of Canada boosted its stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 64.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,226,453 shares of the company’s stock after acquiring an additional 872,131 shares during the period. Royal Bank of Canada owned 1.62% of Lightspeed Commerce worth $19,950,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LSPD. Goldman Sachs Group Inc. boosted 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 boosted its position in shares of Lightspeed Commerce by 8.1% during the 2nd quarter. Geode Capital Management LLC now owns 78,301 shares of the company’s stock valued at $922,000 after acquiring an additional 5,834 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Lightspeed Commerce by 106.4% in the second quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company’s stock valued at $122,000 after purchasing an additional 5,354 shares in the last quarter. Norges Bank bought a new stake in Lightspeed Commerce in the second quarter worth $743,000. Finally, Invesco Ltd. raised its position in shares of Lightspeed Commerce by 2.9% during the 2nd quarter. Invesco Ltd. now owns 29,567 shares of the company’s stock valued at $346,000 after buying an additional 835 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LSPD shares. Bank of America assumed coverage on Lightspeed Commerce in a research report on Tuesday, May 19th. They issued an “underperform” rating and a $10.00 price target for the company. Barclays lowered their target price on Lightspeed Commerce from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Scotiabank dropped their price objective on shares of Lightspeed Commerce from $12.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Monday, May 25th. BMO Capital Markets cut their price objective on shares of Lightspeed Commerce from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Monday, May 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lightspeed Commerce in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.32.

Lightspeed Commerce Stock Performance

Shares of LSPD stock opened at $10.38 on Thursday. The business’s fifty day simple moving average is $9.98 and its 200-day simple moving average is $9.61. The company has a market cap of $1.43 billion, a PE ratio of -14.82, a PEG ratio of 1.11 and a beta of 1.88. The company has a current ratio of 3.55, a quick ratio of 4.18 and a debt-to-equity ratio of 0.01. Lightspeed Commerce Inc. has a 12-month low of $7.83 and a 12-month high of $13.72.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Lightspeed Commerce had a positive return on equity of 1.06% and a negative net margin of 7.81%.The firm had revenue of $322.70 million during the quarter, compared to analysts’ expectations of $310.58 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that Lightspeed Commerce Inc. will post 0.31 earnings per share for the current fiscal year.

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.