Lightspeed Commerce (NYSE:LSPD) Price Target Cut to $16.00

Lightspeed Commerce (NYSE:LSPD) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $17.00 to $16.00 in a research report issued on Friday, BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 3.76% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. TD Securities lowered shares of Lightspeed Commerce from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $17.50 in a research note on Friday, February 9th. Barclays dropped their target price on shares of Lightspeed Commerce from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Jefferies Financial Group assumed coverage on shares of Lightspeed Commerce in a report on Wednesday. They issued a “hold” rating and a $14.00 target price on the stock. Scotiabank lifted their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “sector outperform” rating in a report on Friday. Finally, National Bank Financial downgraded shares of Lightspeed Commerce from an “outperform market weight” rating to a “sector perform market weight” rating in a report on Thursday, February 8th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Lightspeed Commerce presently has an average rating of “Hold” and a consensus price target of $18.61.

Lightspeed Commerce Stock Up 2.1 %

LSPD stock opened at $15.42 on Friday. The company has a current ratio of 6.21, a quick ratio of 6.09 and a debt-to-equity ratio of 0.01. Lightspeed Commerce has a 1 year low of $12.23 and a 1 year high of $21.71. The company has a fifty day simple moving average of $13.57 and a 200 day simple moving average of $15.70. The firm has a market cap of $2.36 billion, a PE ratio of -14.41 and a beta of 2.34.

Institutional Trading of Lightspeed Commerce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. bought a new stake in Lightspeed Commerce in the first quarter valued at about $35,000. Conestoga Capital Advisors LLC bought a new stake in Lightspeed Commerce in the first quarter valued at about $141,000. Duality Advisers LP bought a new stake in Lightspeed Commerce in the fourth quarter valued at about $276,000. New York State Common Retirement Fund increased its stake in Lightspeed Commerce by 13.9% in the third quarter. New York State Common Retirement Fund now owns 20,350 shares of the company’s stock valued at $286,000 after acquiring an additional 2,482 shares during the period. Finally, Cidel Asset Management Inc. boosted its position in Lightspeed Commerce by 44.1% in the third quarter. Cidel Asset Management Inc. now owns 25,870 shares of the company’s stock valued at $365,000 after buying an additional 7,920 shares in 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.