Piper Sandler Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $11.00

Lightspeed Commerce (NYSE:LSPD) had its target price decreased by equities research analysts at Piper Sandler from $13.00 to $11.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 21.21% from the stock’s previous close.

LSPD has been the subject of several other reports. Barclays dropped their price target on Lightspeed Commerce from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Wells Fargo & Company dropped their target price on Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Scotiabank decreased their price target on shares of Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating on the stock in a research note on Tuesday. UBS Group lowered their price target on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Finally, Royal Bank of Canada cut their price objective on shares of Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday. Eleven 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’s stock. According to MarketBeat, Lightspeed Commerce presently has an average rating of “Hold” and a consensus price target of $16.09.

Lightspeed Commerce Stock Performance

NYSE LSPD opened at $9.08 on Thursday. The firm has a market capitalization of $1.39 billion, a P/E ratio of -11.34, a price-to-earnings-growth ratio of 3.03 and a beta of 2.44. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $14.71. Lightspeed Commerce has a 1 year low of $9.00 and a 1 year high of $18.96.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data 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%. As a group, research analysts anticipate that Lightspeed Commerce will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Lightspeed Commerce

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Lightspeed Commerce by 37,065.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company’s stock valued at $63,688,000 after purchasing an additional 4,170,557 shares during the period. Ameriprise Financial Inc. purchased a new position in Lightspeed Commerce during the 4th quarter valued at about $24,334,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Lightspeed Commerce by 266.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company’s stock valued at $20,660,000 after buying an additional 986,100 shares during the period. Intact Investment Management Inc. increased its position in shares of Lightspeed Commerce by 94.5% during the fourth quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock valued at $26,031,000 after buying an additional 829,577 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Lightspeed Commerce by 304.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 397,752 shares of the company’s stock worth $6,061,000 after buying an additional 299,482 shares in the last quarter. Hedge funds and other 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.