Piper Sandler Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $11.00

Lightspeed Commerce (NYSE:LSPD) had its price objective cut by Piper Sandler from $13.00 to $11.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also weighed in on LSPD. UBS Group lowered their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Bank of America started coverage on Lightspeed Commerce in a research report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada cut their price objective on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday. Barclays reduced their target price on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. Finally, Scotiabank dropped their target price on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.82.

Lightspeed Commerce Stock Down 5.8 %

Shares of LSPD stock opened at $9.37 on Thursday. Lightspeed Commerce has a one year low of $9.25 and a one year high of $18.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. The stock has a fifty day moving average price of $12.63 and a 200 day moving average price of $14.73. The stock has a market cap of $1.43 billion, a P/E ratio of -11.71, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. Analysts predict that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Institutional Trading of Lightspeed Commerce

Hedge funds have recently modified their holdings of the stock. Algert Global LLC bought a new position in Lightspeed Commerce in the 3rd quarter valued at $448,000. FMR LLC lifted its stake in shares of Lightspeed Commerce by 7.1% during the third quarter. FMR LLC now owns 58,971 shares of the company’s stock valued at $972,000 after acquiring an additional 3,900 shares during the period. Verition Fund Management LLC bought a new position in Lightspeed Commerce in the third quarter valued at about $499,000. PDT Partners LLC acquired a new stake in Lightspeed Commerce in the third quarter worth about $659,000. Finally, Azora Capital LP raised its holdings in Lightspeed Commerce by 3.4% during the 3rd quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock worth $23,735,000 after purchasing an additional 47,359 shares during the last quarter. 68.68% of the stock is owned by 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.