PDT Partners LLC Makes New Investment in Lightspeed Commerce Inc. (NYSE:LSPD)

PDT Partners LLC purchased a new stake in Lightspeed Commerce Inc. (NYSE:LSPD) in the third quarter, Holdings Channel reports. The firm purchased 39,962 shares of the company’s stock, valued at approximately $659,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LSPD. Intact Investment Management Inc. raised its holdings in shares of Lightspeed Commerce by 10,117.5% during the 3rd 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 period. Westfield Capital Management Co. LP raised its stake in Lightspeed Commerce by 30.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after purchasing an additional 766,688 shares during the period. NewGen Asset Management Ltd acquired a new position in Lightspeed Commerce in the 2nd quarter valued at about $9,241,000. Marshall Wace LLP grew its stake in shares of Lightspeed Commerce by 306.5% in the 2nd quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock valued at $11,051,000 after buying an additional 608,661 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of Lightspeed Commerce by 345,464.1% during the 2nd 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 and hedge funds own 68.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LSPD shares. Benchmark upped their price objective on Lightspeed Commerce from $20.00 to $21.00 and gave the company a “buy” rating in a report on Friday, November 8th. BMO Capital Markets upped their price target on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. BTIG Research reaffirmed a “buy” rating and issued a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Finally, TD Securities lifted their price target on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lightspeed Commerce presently has an average rating of “Moderate Buy” and an average target price of $19.88.

Lightspeed Commerce Trading Down 8.9 %

NYSE LSPD opened at $17.12 on Tuesday. Lightspeed Commerce Inc. has a 52 week low of $11.01 and a 52 week high of $21.71. The firm has a 50 day moving average of $16.37 and a two-hundred day moving average of $14.59. The stock has a market capitalization of $2.60 billion, a PE ratio of -19.38 and a beta of 2.35. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last posted its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The firm had revenue of $277.18 million for the quarter, compared to analyst estimates 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, research analysts expect that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

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.