Lightspeed Commerce (NASDAQ:LSPD) Price Target Lowered to C$40.00 at Raymond James

Lightspeed Commerce (NASDAQ:LSPDGet Rating) had its price target lowered by Raymond James from C$68.00 to C$40.00 in a research note issued to investors on Friday, The Fly reports.

Several other brokerages also recently issued reports on LSPD. BMO Capital Markets cut their price target on Lightspeed Commerce from C$96.00 to C$60.00 in a report on Friday, February 4th. Royal Bank of Canada cut their price target on Lightspeed Commerce from $62.00 to $50.00 and set an outperform rating on the stock in a report on Friday, February 4th. KeyCorp cut their price target on Lightspeed Commerce from $100.00 to $40.00 and set an overweight rating on the stock in a report on Tuesday, January 25th. Zacks Investment Research downgraded Lightspeed Commerce from a buy rating to a hold rating in a report on Wednesday, April 6th. Finally, BTIG Research cut their price target on Lightspeed Commerce from $112.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, January 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $69.59.

NASDAQ:LSPD traded up $5.20 during trading hours on Friday, reaching $21.37. 2,864,766 shares of the stock were exchanged, compared to its average volume of 1,025,686. The company has a quick ratio of 7.23, a current ratio of 7.26 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $24.94 and a 200-day simple moving average of $37.81. Lightspeed Commerce has a 52 week low of $15.03 and a 52 week high of $130.02. The stock has a market capitalization of $3.17 billion, a P/E ratio of -13.44 and a beta of 3.58.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital International Investors raised its stake in shares of Lightspeed Commerce by 10.1% in the 4th quarter. Capital International Investors now owns 7,512,218 shares of the company’s stock worth $303,424,000 after buying an additional 686,894 shares in the last quarter. BlackRock Inc. raised its stake in shares of Lightspeed Commerce by 75.7% in the 4th quarter. BlackRock Inc. now owns 4,591,640 shares of the company’s stock worth $185,640,000 after buying an additional 1,978,627 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lightspeed Commerce by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 4,139,722 shares of the company’s stock worth $126,138,000 after buying an additional 84,521 shares in the last quarter. Capital World Investors raised its stake in shares of Lightspeed Commerce by 75.1% in the 3rd quarter. Capital World Investors now owns 3,832,425 shares of the company’s stock worth $369,578,000 after buying an additional 1,643,571 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Lightspeed Commerce by 58.8% during the first quarter. JPMorgan Chase & Co. now owns 2,616,377 shares of the company’s stock worth $79,720,000 after purchasing an additional 968,919 shares during the period. 66.77% of the stock is currently owned by institutional investors.

About Lightspeed Commerce (Get Rating)

Lightspeed Commerce Inc provides commerce enabling Software as a Service (SaaS) platform for small and midsize businesses, retailers, restaurants, and golf course operators in Canada, the United States, Germany, Australia, and internationally. Its SaaS platform enables customers to engage with consumers, manage operations, accept payments, etc.

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