Scotiabank Issues Pessimistic Forecast for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its price objective reduced by Scotiabank from $19.00 to $17.00 in a report released on Tuesday morning, MarketBeat reports. Scotiabank currently has a sector outperform rating on the stock.

Several other brokerages also recently weighed in on LSPD. 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. UBS Group decreased their price objective on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a research note on Friday, February 7th. Piper Sandler dropped their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price target on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Finally, Bank of America began coverage on Lightspeed Commerce in a report on Wednesday, February 19th. They set a “buy” rating and a $20.00 price objective for the company. Eight equities 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Lightspeed Commerce Stock Down 5.8 %

Shares of NYSE LSPD opened at $9.37 on Tuesday. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 12-month low of $9.25 and a 12-month high of $18.96. The firm’s 50-day moving average price is $12.63 and its 200-day moving average price is $14.73. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -11.71, a P/E/G ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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%. On average, equities research analysts anticipate that Lightspeed Commerce will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Lightspeed Commerce by 29.1% during the third quarter. State Street Corp now owns 353,472 shares of the company’s stock valued at $5,829,000 after purchasing an additional 79,696 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in Lightspeed Commerce by 33.8% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 123,060 shares of the company’s stock worth $1,874,000 after buying an additional 31,060 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Lightspeed Commerce during the third quarter worth $499,000. NINE MASTS CAPITAL Ltd bought a new stake in Lightspeed Commerce during the 4th quarter valued at $579,000. Finally, PDT Partners LLC purchased a new position in shares of Lightspeed Commerce in the 3rd quarter valued at $659,000. Hedge funds and other institutional investors own 68.68% of the company’s stock.

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.