Lightspeed Commerce (NYSE:LSPD) Shares Up 10.3% – Should You Buy?

Lightspeed Commerce Inc. (NYSE:LSPD)’s stock price traded up 10.3% during trading on Thursday . The stock traded as high as $17.93 and last traded at $17.38. 520,256 shares were traded 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.

Analyst Ratings Changes

A number of research firms have weighed in on LSPD. TD Securities decreased their price target on Lightspeed Commerce from $16.00 to $15.00 and set a “hold” rating for the company in a report on Friday, August 2nd. BTIG Research reaffirmed a “buy” rating and issued a $21.00 price target on shares of Lightspeed Commerce in a report on Thursday, September 26th. Jefferies Financial Group cut their price objective on shares of Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their target price on shares of Lightspeed Commerce from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, Piper Sandler cut their price target on shares of Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.69.

Lightspeed Commerce Trading Up 7.0 %

The company has a fifty day moving average of $14.59 and a two-hundred day moving average of $14.03. The company has a quick ratio of 6.06, a current ratio of 6.19 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -17.71, a P/E/G ratio of 9.52 and a beta of 2.35.

Institutional Trading of Lightspeed Commerce

Several hedge funds have recently made changes to their positions in LSPD. Toronto Dominion Bank lifted its holdings in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after buying an additional 3,482 shares during the period. Headlands Technologies LLC purchased a new position in Lightspeed Commerce in the second quarter worth $181,000. Aigen Investment Management LP acquired a new stake in Lightspeed Commerce in the third quarter valued at $225,000. Duality Advisers LP boosted its position 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 worth $483,000 after purchasing an additional 21,172 shares in the last quarter. Finally, Addenda Capital Inc. increased its holdings in shares of Lightspeed Commerce by 10.5% in the 2nd 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 in the last quarter. Institutional investors and hedge funds 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.