Benchmark Begins Coverage on Lightspeed Commerce (NYSE:LSPD)

Benchmark initiated coverage on shares of Lightspeed Commerce (NYSE:LSPD) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $20.00 price objective on the stock.

Other analysts have also recently issued reports about the stock. Piper Sandler reduced their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set a neutral rating for the company in a report on Friday, August 2nd. UBS Group raised their target price on shares of Lightspeed Commerce from $17.00 to $18.00 and gave the stock a neutral rating in a report on Tuesday, May 21st. BMO Capital Markets reduced their target price on shares of Lightspeed Commerce from $20.00 to $18.00 and set an outperform rating for the company in a report on Friday, August 2nd. TD Securities reduced their target price on shares of Lightspeed Commerce from $16.00 to $15.00 and set a hold rating for the company in a report on Friday, August 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $17.00 to $15.00 and set an equal weight rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $18.65.

Lightspeed Commerce Trading Up 5.0 %

Lightspeed Commerce stock opened at $14.01 on Tuesday. The firm has a 50 day simple moving average of $13.02 and a 200-day simple moving average of $13.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.19 and a quick ratio of 6.06. The stock has a market capitalization of $2.15 billion, a PE ratio of -13.10, a price-to-earnings-growth ratio of 62.94 and a beta of 2.32. Lightspeed Commerce has a 12-month low of $11.01 and a 12-month high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $266.10 million during the quarter, compared to analysts’ expectations of $258.58 million. Lightspeed Commerce had a negative net margin of 15.55% and a negative return on equity of 0.99%. The business’s revenue was up 27.3% on a year-over-year basis. During the same period last year, the firm posted ($0.14) earnings per share. As a group, equities research analysts expect that Lightspeed Commerce will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Lightspeed Commerce

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Lightspeed Commerce in the 1st quarter worth approximately $35,000. Toronto Dominion Bank raised its holdings in shares of Lightspeed Commerce by 102.8% during the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after purchasing an additional 3,482 shares in the last quarter. Conestoga Capital Advisors LLC bought a new position in shares of Lightspeed Commerce during the 1st quarter valued at $141,000. Headlands Technologies LLC bought a new position in shares of Lightspeed Commerce during the 2nd quarter valued at $181,000. Finally, Duality Advisers LP raised its holdings in shares of Lightspeed Commerce by 160.8% during the 1st 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 in the last quarter. Hedge funds and other 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.