Lightspeed Commerce (NYSE:LSPD) Upgraded by Royal Bank of Canada to Moderate Buy Rating

Lightspeed Commerce (NYSE:LSPD) was upgraded by equities research analysts at Royal Bank of Canada from a “strong sell” rating to a “moderate buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. TD Securities raised their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a report on Friday. Piper Sandler raised their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Monday. Benchmark raised their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Company decreased their price objective on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Lightspeed Commerce from $20.00 to $26.00 in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Lightspeed Commerce Stock Up 4.0 %

Shares of LSPD opened at $17.75 on Friday. Lightspeed Commerce has a 52-week low of $11.01 and a 52-week high of $21.71. The company has a market capitalization of $2.69 billion, a PE ratio of -19.94, a price-to-earnings-growth ratio of 10.75 and a beta of 2.35. The stock has a fifty day simple moving average of $14.92 and a two-hundred day simple moving average of $14.13. The company has a quick ratio of 6.06, a current ratio of 6.19 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $277.18 million during the quarter, compared to the consensus estimate of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. As a group, equities analysts forecast that Lightspeed Commerce will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in shares of Lightspeed Commerce by 102.8% in the second 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 during the period. Headlands Technologies LLC acquired a new position in shares of Lightspeed Commerce in the second quarter valued at approximately $181,000. Aigen Investment Management LP acquired a new position in shares of Lightspeed Commerce in the third quarter valued at approximately $225,000. Addenda Capital Inc. increased its holdings in shares of 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 period. Finally, Boulder Hill Capital Management LP acquired a new position in shares of Lightspeed Commerce in the first quarter valued at approximately $811,000. Institutional investors and hedge funds own 68.68% of the company’s stock.

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.