1832 Asset Management L.P. Grows Stock Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

1832 Asset Management L.P. grew its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 345,464.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 404,310 shares of the company’s stock after purchasing an additional 404,193 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.26% of Lightspeed Commerce worth $5,535,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LSPD. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Lightspeed Commerce in the first quarter valued at approximately $35,000. Conestoga Capital Advisors LLC acquired a new stake in shares of Lightspeed Commerce during the 1st quarter worth $141,000. Headlands Technologies LLC purchased a new position in shares of Lightspeed Commerce in the 2nd quarter worth $181,000. Duality Advisers LP boosted its holdings in Lightspeed Commerce by 160.8% in the first quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock valued at $483,000 after acquiring an additional 21,172 shares during the last quarter. Finally, Addenda Capital Inc. grew its position in Lightspeed Commerce by 5.3% during the first quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock valued at $560,000 after acquiring an additional 1,990 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

Lightspeed Commerce Price Performance

Shares of LSPD stock opened at $13.89 on Wednesday. The firm has a fifty day moving average of $13.01 and a two-hundred day moving average of $13.59. The firm has a market cap of $2.13 billion, a P/E ratio of -12.98, a P/E/G ratio of 62.94 and a beta of 2.32. Lightspeed Commerce Inc. has a 1-year low of $11.01 and a 1-year high of $21.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.19 and a quick ratio of 6.06.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on LSPD. Piper Sandler cut their price objective on Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada downgraded shares of Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, August 15th. Benchmark began coverage on shares of Lightspeed Commerce in a research note on Tuesday, September 17th. They issued a “buy” rating and a $20.00 target price on the stock. Jefferies Financial Group reduced their target price 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. Finally, JPMorgan Chase & Co. lowered their price target on Lightspeed Commerce from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. One research 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.65.

Lightspeed Commerce 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.