The Manufacturers Life Insurance Company Boosts Stake in Lightspeed Commerce Inc. (NYSE:LSPD)

The Manufacturers Life Insurance Company increased its position in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 2.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 114,808 shares of the company’s stock after buying an additional 2,459 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Lightspeed Commerce were worth $1,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Lightspeed Commerce in the first quarter valued at approximately $35,000. Toronto Dominion Bank lifted its stake in Lightspeed Commerce by 102.8% in the second 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 during the last quarter. Headlands Technologies LLC purchased a new stake in Lightspeed Commerce in the second quarter valued at approximately $181,000. Duality Advisers LP lifted its stake 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 buying an additional 21,172 shares during the last quarter. Finally, Addenda Capital Inc. lifted its stake in Lightspeed Commerce by 5.3% in the first quarter. Addenda Capital Inc. now owns 39,845 shares of the company’s stock valued at $560,000 after buying an additional 1,990 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 equities research analysts have weighed in on LSPD shares. Piper Sandler reduced their price objective on Lightspeed Commerce from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on Lightspeed Commerce from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Royal Bank of Canada cut Lightspeed Commerce from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company cut their price target on Lightspeed Commerce from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.59.

Lightspeed Commerce Trading Down 0.3 %

Shares of LSPD stock opened at $15.94 on Friday. The business’s fifty day moving average price is $13.67 and its 200 day moving average price is $13.82. Lightspeed Commerce Inc. has a 1-year low of $11.01 and a 1-year high of $21.71. The firm has a market capitalization of $2.44 billion, a PE ratio of -14.90, a P/E/G ratio of 8.59 and a beta of 2.34. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported $0.10 earnings per share 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 firm had revenue of $266.10 million for the quarter, compared to analyst estimates of $258.58 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Lightspeed Commerce’s quarterly revenue was up 27.3% on a year-over-year basis. As a group, sell-side analysts forecast that Lightspeed Commerce Inc. will post 0.05 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.