Westfield Capital Management Co. LP Acquires Shares of 2,488,179 Lightspeed Commerce Inc. (NYSE:LSPD)

Westfield Capital Management Co. LP acquired a new stake in Lightspeed Commerce Inc. (NYSE:LSPD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,488,179 shares of the company’s stock, valued at approximately $34,984,000. Westfield Capital Management Co. LP owned 1.62% of Lightspeed Commerce as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Lightspeed Commerce during the fourth quarter worth about $25,993,000. Hillsdale Investment Management Inc. increased its stake in shares of Lightspeed Commerce by 365.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,348,120 shares of the company’s stock worth $28,317,000 after acquiring an additional 1,058,320 shares during the period. Azora Capital LP increased its stake in shares of Lightspeed Commerce by 133.1% during the fourth quarter. Azora Capital LP now owns 1,579,312 shares of the company’s stock worth $33,166,000 after acquiring an additional 901,861 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Lightspeed Commerce by 13.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,297,686 shares of the company’s stock worth $111,232,000 after acquiring an additional 627,796 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Lightspeed Commerce by 19.0% during the third quarter. Wellington Management Group LLP now owns 2,674,070 shares of the company’s stock worth $37,517,000 after acquiring an additional 427,320 shares during the period. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LSPD has been the topic of a number of recent analyst reports. TD Securities boosted their price target on shares of Lightspeed Commerce from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Piper Sandler dropped their price target on shares of Lightspeed Commerce from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, May 20th. Cibc World Mkts upgraded shares of Lightspeed Commerce from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. Royal Bank of Canada restated an “outperform” rating and set a $21.00 target price on shares of Lightspeed Commerce in a research report on Wednesday, May 29th. Finally, Scotiabank upped their target price on shares of Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 17th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.78.

Lightspeed Commerce Trading Up 0.4 %

Shares of LSPD traded up $0.05 on Friday, hitting $13.55. 555,869 shares of the stock traded hands, compared to its average volume of 648,247. The company has a quick ratio of 6.23, a current ratio of 6.34 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $2.08 billion, a P/E ratio of -12.66 and a beta of 2.33. The stock’s 50 day moving average is $14.21 and its two-hundred day moving average is $14.77. Lightspeed Commerce Inc. has a 1 year low of $12.23 and a 1 year high of $21.71.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.16. Lightspeed Commerce had a negative net margin of 18.03% and a negative return on equity of 2.02%. The firm had revenue of $230.22 million during the quarter, compared to analyst estimates of $224.08 million. As a group, sell-side analysts predict that Lightspeed Commerce Inc. will post -0.39 earnings per share for the current year.

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.