Wells Fargo & Company Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price objective cut by Wells Fargo & Company from $16.00 to $13.00 in a report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Benchmark lifted their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays cut shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $20.00 to $18.00 in a research report on Friday, January 10th. TD Securities boosted their price target on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Piper Sandler decreased their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lightspeed Commerce presently has an average rating of “Hold” and a consensus target price of $18.39.

Lightspeed Commerce Stock Up 4.3 %

Shares of NYSE LSPD opened at $13.14 on Friday. Lightspeed Commerce has a 12 month low of $11.01 and a 12 month high of $18.96. The company has a 50 day simple moving average of $15.53 and a two-hundred day simple moving average of $14.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.60%. As a group, research analysts expect that Lightspeed Commerce will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Lightspeed Commerce

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after buying an additional 1,025 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Lightspeed Commerce in the third quarter valued at $225,000. Toronto Dominion Bank grew its stake in shares of Lightspeed Commerce by 153.4% during the 3rd quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock worth $287,000 after purchasing an additional 10,538 shares during the period. Amundi grew its stake in shares of Lightspeed Commerce by 20.5% during the 4th quarter. Amundi now owns 22,538 shares of the company’s stock worth $347,000 after purchasing an additional 3,838 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Lightspeed Commerce by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after purchasing an additional 1,276 shares in the last quarter. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

About Lightspeed Commerce

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.