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

Royal Bank of Canada upgraded shares of Lightspeed Commerce (NYSE:LSPD) from a strong sell rating to a moderate buy rating in a research report released on Friday morning,Zacks.com reports.

LSPD has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday. Wells Fargo & Company decreased their target price on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. TD Securities upped their target price on Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday. BTIG Research reissued a “buy” rating and issued a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Finally, Benchmark upped their target price on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lightspeed Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $19.88.

Lightspeed Commerce Trading Up 4.0 %

Shares of NYSE: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’s 50 day moving average is $14.92 and its two-hundred day moving average is $14.13. The company has a current ratio of 6.19, a quick ratio of 6.06 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.69 billion, a PE ratio of -19.94, a P/E/G ratio of 10.75 and a beta of 2.35.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $277.18 million during the quarter, compared to analysts’ expectations of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. Equities analysts predict that Lightspeed Commerce will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Westfield Capital Management Co. LP acquired a new position in shares of Lightspeed Commerce in the first quarter worth $34,984,000. Intact Investment Management Inc. increased its stake in shares of Lightspeed Commerce by 10,117.5% in the third quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after acquiring an additional 869,090 shares during the last quarter. NewGen Asset Management Ltd acquired a new position in shares of Lightspeed Commerce in the second quarter worth $9,241,000. Marshall Wace LLP increased its position in Lightspeed Commerce by 306.5% during the second quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock worth $11,051,000 after buying an additional 608,661 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in Lightspeed Commerce by 345,464.1% during the second quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock worth $5,535,000 after buying an additional 404,193 shares during the last quarter. Institutional investors 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.