Piper Sandler Forecasts Strong Price Appreciation for Lightspeed Commerce (NYSE:LSPD) Stock

Lightspeed Commerce (NYSE:LSPD) had its price objective raised by Piper Sandler from $15.00 to $17.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. Wells Fargo & Company dropped their price target on shares of Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 31st. BTIG Research reaffirmed a “buy” rating and issued a $21.00 target price on shares of Lightspeed Commerce in a report on Thursday, September 26th. TD Securities boosted their price objective on Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Finally, Royal Bank of Canada downgraded shares of Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lightspeed Commerce presently has a consensus rating of “Moderate Buy” and an average price target of $19.88.

Lightspeed Commerce Stock Performance

Shares of LSPD stock opened at $17.59 on Monday. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $21.71. The firm has a market capitalization of $2.67 billion, a PE ratio of -19.76, a price-to-earnings-growth ratio of 6.98 and a beta of 2.35. The firm has a fifty day simple moving average of $15.24 and a two-hundred day simple moving average of $14.22.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. Analysts forecast that Lightspeed Commerce will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LSPD. Toronto Dominion Bank lifted its holdings in shares of Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after acquiring an additional 3,482 shares during the last quarter. Headlands Technologies LLC bought a new stake in Lightspeed Commerce during the second quarter worth about $181,000. Aigen Investment Management LP bought a new stake in Lightspeed Commerce during the third quarter worth about $225,000. Algert Global LLC purchased a new position in shares of Lightspeed Commerce in the 3rd quarter worth about $448,000. Finally, Verition Fund Management LLC bought a new position in shares of Lightspeed Commerce during the 3rd quarter valued at about $499,000. 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.