Scotiabank Has Lowered Expectations for Lightspeed Commerce (NYSE:LSPD) Stock Price

Lightspeed Commerce (NYSE:LSPD) had its target price dropped by stock analysts at Scotiabank from $19.00 to $17.00 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 71.11% from the stock’s previous close.

Other analysts have also issued reports about the company. Bank of America began coverage on Lightspeed Commerce in a research report on Wednesday, February 19th. They issued a “buy” rating and a $20.00 target price for the company. UBS Group lowered their target price on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Piper Sandler cut their target price on Lightspeed Commerce from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Finally, Barclays lowered their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.89.

Lightspeed Commerce Price Performance

Lightspeed Commerce stock opened at $9.94 on Tuesday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -12.42, a PEG ratio of 3.03 and a beta of 2.44. Lightspeed Commerce has a 52-week low of $9.88 and a 52-week high of $18.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. The stock’s 50 day moving average price is $12.74 and its two-hundred day moving average price is $14.77.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. On average, equities analysts predict that Lightspeed Commerce will post 0.08 earnings per share for the current year.

Institutional Trading of Lightspeed Commerce

A number of institutional investors and hedge funds have recently modified their holdings of LSPD. CIBC Asset Management Inc boosted its position in Lightspeed Commerce by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock worth $2,620,000 after purchasing an additional 679 shares during the last quarter. Addenda Capital Inc. raised its stake in shares of Lightspeed Commerce by 2.0% during the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock worth $710,000 after purchasing an additional 931 shares during the period. Blue Trust Inc. boosted its holdings in shares of Lightspeed Commerce by 214.4% in the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after buying an additional 1,025 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Lightspeed Commerce by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after buying an additional 1,276 shares during the period. Finally, Scotia Capital Inc. increased its holdings in Lightspeed Commerce by 12.0% during the fourth quarter. Scotia Capital Inc. now owns 19,225 shares of the company’s stock worth $293,000 after buying an additional 2,053 shares during the last quarter. 68.68% of the stock is 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.