Credit Suisse Group Trims Lightspeed Commerce (NYSE:LSPD) Target Price to $15.00

Lightspeed Commerce (NYSE:LSPD – Get Rating) had its price objective cut by equities researchers at Credit Suisse Group from $18.00 to $15.00 in a report issued on Friday, The Fly reports. Credit Suisse Group’s price objective indicates a potential upside of 12.53% from the company’s current price.

A number of other research analysts have also recently commented on LSPD. Moffett Nathanson cut Lightspeed Commerce from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $23.00 to $17.00 in a research report on Tuesday, March 7th. CIBC cut Lightspeed Commerce from a “sector outperform” rating to a “neutral” rating in a research report on Thursday, February 2nd. Morgan Stanley dropped their price target on Lightspeed Commerce from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Friday, February 3rd. National Bankshares dropped their price target on Lightspeed Commerce from $30.00 to $20.00 in a research report on Friday, April 21st. Finally, Truist Financial upped their price target on Lightspeed Commerce from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.14.

Lightspeed Commerce Stock Up 2.5 %

LSPD stock opened at $13.33 on Friday. Lightspeed Commerce has a 1-year low of $12.52 and a 1-year high of $28.35. The company has a current ratio of 6.56, a quick ratio of 6.49 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $14.12 and its two-hundred day simple moving average is $15.15. The stock has a market cap of $2.00 billion, a P/E ratio of -1.88 and a beta of 2.28.

Hedge Funds Weigh In On Lightspeed Commerce

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in Lightspeed Commerce by 112.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock worth $40,000 after acquiring an additional 688 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Lightspeed Commerce by 24.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,975 shares of the company’s stock valued at $66,000 after purchasing an additional 577 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Lightspeed Commerce during the 1st quarter valued at about $80,000. Advisors Asset Management Inc. increased its position in shares of Lightspeed Commerce by 164.7% during the 1st quarter. Advisors Asset Management Inc. now owns 3,341 shares of the company’s stock valued at $102,000 after purchasing an additional 2,079 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Lightspeed Commerce by 49.7% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,329 shares of the company’s stock valued at $104,000 after purchasing an additional 2,433 shares during the last quarter. 51.86% of the stock is currently owned by institutional investors.

About Lightspeed Commerce

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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, Australia, the Netherlands, and internationally. Its SaaS platform enables customers to engage with consumers, manage operations, accept payments, etc.