Lightspeed Commerce (NYSE:LSPD) Trading Down 6.3% – What’s Next?

Lightspeed Commerce Inc. (NYSE:LSPD) shares fell 6.3% on Monday . The company traded as low as $17.55 and last traded at $17.61. 432,827 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,094,602 shares. The stock had previously closed at $18.80.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LSPD shares. JPMorgan Chase & Co. upped their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday, November 8th. Piper Sandler upped their price target on shares of Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Benchmark lifted their price objective on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group reduced their price objective on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Finally, BMO Capital Markets lifted their price target on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.88.

Lightspeed Commerce Stock Down 7.4 %

The firm has a market cap of $2.64 billion, a PE ratio of -19.79 and a beta of 2.35. The stock has a fifty day simple moving average of $16.37 and a two-hundred day simple moving average of $14.59. The company has a current ratio of 6.08, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. As a group, sell-side analysts expect that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

Institutional Trading of Lightspeed Commerce

A number of hedge funds have recently bought and sold shares of LSPD. The Manufacturers Life Insurance Company boosted its position in Lightspeed Commerce by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 114,808 shares of the company’s stock valued at $1,567,000 after buying an additional 2,459 shares during the period. TD Asset Management Inc boosted its holdings in Lightspeed Commerce by 0.7% during the 2nd quarter. TD Asset Management Inc now owns 384,137 shares of the company’s stock valued at $5,250,000 after acquiring an additional 2,828 shares during the period. Toronto Dominion Bank grew its position in Lightspeed Commerce by 102.8% during 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. FMR LLC increased its stake in Lightspeed Commerce by 7.1% in the 3rd quarter. FMR LLC now owns 58,971 shares of the company’s stock worth $972,000 after purchasing an additional 3,900 shares during the period. Finally, Addenda Capital Inc. lifted its position in Lightspeed Commerce by 10.5% in the second quarter. Addenda Capital Inc. now owns 44,041 shares of the company’s stock valued at $603,000 after purchasing an additional 4,196 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.

Lightspeed Commerce Company Profile

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.