Lightspeed Commerce (NYSE:LSPD) Trading 10.3% Higher Following Strong Earnings

Lightspeed Commerce Inc. (NYSE:LSPD) traded up 10.3% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $17.93 and last traded at $17.38. 520,256 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 1,098,467 shares. The stock had previously closed at $15.76.

The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.99% and a negative net margin of 15.55%. The firm had revenue of $277.18 million during the quarter, compared to analysts’ expectations of $273.90 million.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BTIG Research reissued a “buy” rating and set a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Piper Sandler dropped their target price on Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on Lightspeed Commerce from $20.00 to $26.00 in a report on Friday. TD Securities increased their price target on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday. Finally, Royal Bank of Canada downgraded shares of Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lightspeed Commerce has a consensus rating of “Hold” and an average target price of $19.75.

Institutional Investors Weigh In On Lightspeed Commerce

Several large investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its holdings in Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock worth $94,000 after acquiring an additional 3,482 shares during the last quarter. Headlands Technologies LLC bought a new position in Lightspeed Commerce during the second quarter worth about $181,000. Aigen Investment Management LP purchased a new position in shares of Lightspeed Commerce in the third quarter worth about $225,000. Duality Advisers LP raised its position in shares of Lightspeed Commerce by 160.8% in the first quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock valued at $483,000 after purchasing an additional 21,172 shares during the period. Finally, Addenda Capital Inc. lifted its stake in shares of Lightspeed Commerce by 10.5% during the 2nd quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock valued at $603,000 after buying an additional 4,196 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Stock Up 0.7 %

The stock’s 50 day moving average is $14.82 and its 200 day moving average is $14.09. The company has a market capitalization of $2.59 billion, a PE ratio of -17.42, a PEG ratio of 9.93 and a beta of 2.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.06 and a current ratio of 6.19.

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.