Lightspeed Commerce (NYSE:LSPD) Price Target Raised to $22.00

Lightspeed Commerce (NYSE:LSPDFree Report) had its price target increased by Scotiabank from $21.00 to $22.00 in a research report report published on Wednesday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on the company. National Bankshares reduced their target price on Lightspeed Commerce from $23.00 to $20.00 and set an outperform rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada reiterated an outperform rating and set a $21.00 price objective on shares of Lightspeed Commerce in a research note on Tuesday, November 7th. Barclays lifted their price objective on Lightspeed Commerce from $20.00 to $23.00 and gave the company an overweight rating in a research note on Friday, January 12th. BTIG Research lifted their price objective on Lightspeed Commerce from $20.00 to $24.00 and gave the company a buy rating in a research note on Thursday, December 28th. Finally, Wells Fargo & Company started coverage on Lightspeed Commerce in a research note on Tuesday, October 31st. They issued an equal weight rating and a $14.00 price target for the company. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Lightspeed Commerce currently has an average rating of Hold and a consensus target price of $19.72.

View Our Latest Analysis on Lightspeed Commerce

Lightspeed Commerce Stock Performance

Shares of LSPD stock opened at $18.97 on Wednesday. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -2.93 and a beta of 2.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.41 and a quick ratio of 6.29. The business has a fifty day moving average of $18.47 and a 200 day moving average of $16.43. Lightspeed Commerce has a 1 year low of $12.23 and a 1 year high of $21.71.

Lightspeed Commerce (NYSE:LSPDGet Free Report) last issued its earnings results on Thursday, November 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. The company had revenue of $230.27 million during the quarter, compared to analyst estimates of $214.59 million. Lightspeed Commerce had a negative return on equity of 3.55% and a negative net margin of 120.71%. As a group, research analysts expect that Lightspeed Commerce will post -0.63 earnings per share for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

Several large investors have recently bought and sold shares of LSPD. Raymond James & Associates grew its position in shares of Lightspeed Commerce by 19.8% in the first quarter. Raymond James & Associates now owns 74,890 shares of the company’s stock valued at $2,282,000 after purchasing an additional 12,368 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Lightspeed Commerce by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 149,006 shares of the company’s stock valued at $4,539,000 after purchasing an additional 20,838 shares in the last quarter. Citigroup Inc. grew its position in shares of Lightspeed Commerce by 9.2% in the first quarter. Citigroup Inc. now owns 19,479 shares of the company’s stock valued at $594,000 after purchasing an additional 1,636 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Lightspeed Commerce by 112.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $40,000 after purchasing an additional 688 shares in the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in shares of Lightspeed Commerce in the first quarter valued at approximately $308,000. 51.98% of the stock is currently owned by hedge funds and other institutional investors.

About Lightspeed Commerce

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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.

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Analyst Recommendations for Lightspeed Commerce (NYSE:LSPD)

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