Lightspeed Commerce (NYSE:LSPD) Sees Large Volume Increase

Shares of Lightspeed Commerce Inc. (NYSE:LSPD) saw an uptick in trading volume on Wednesday . 4,166,297 shares were traded during trading, an increase of 271% from the previous session’s volume of 1,122,703 shares.The stock last traded at $15.84 and had previously closed at $13.89.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LSPD shares. BTIG Research reaffirmed a “buy” rating and set a $21.00 price target on shares of Lightspeed Commerce in a report on Thursday. BMO Capital Markets raised their target price on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday. TD Securities decreased their target price on shares of Lightspeed Commerce from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company lowered their price target on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. Finally, Jefferies Financial Group cut their price objective on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lightspeed Commerce currently has an average rating of “Hold” and an average target price of $18.59.

Lightspeed Commerce Stock Performance

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 $2.54 billion, a P/E ratio of -15.66, a PEG ratio of 8.59 and a beta of 2.32. The business’s 50 day simple moving average is $13.11 and its 200 day simple moving average is $13.62.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $266.10 million for the quarter, compared to the consensus estimate of $258.58 million. Lightspeed Commerce had a negative net margin of 15.55% and a negative return on equity of 0.99%. The company’s revenue was up 27.3% on a year-over-year basis. During the same period last year, the firm earned ($0.14) EPS. Sell-side analysts predict that Lightspeed Commerce Inc. will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lightspeed Commerce

Several large investors have recently made changes to their positions in LSPD. Dixon Mitchell Investment Counsel Inc. bought a new stake in Lightspeed Commerce during the 1st quarter valued at approximately $35,000. Toronto Dominion Bank grew its holdings in Lightspeed Commerce by 102.8% during 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 in the last quarter. Conestoga Capital Advisors LLC bought a new stake in shares of Lightspeed Commerce during the first quarter valued at approximately $141,000. Headlands Technologies LLC purchased a new position in shares of Lightspeed Commerce in the second quarter worth $181,000. Finally, Duality Advisers LP boosted its position in shares of Lightspeed Commerce by 160.8% during the first quarter. Duality Advisers LP now owns 34,337 shares of the company’s stock worth $483,000 after acquiring an additional 21,172 shares during the last quarter. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

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.