Wells Fargo & Company Cuts Lightspeed Commerce (NYSE:LSPD) Price Target to $16.00

Lightspeed Commerce (NYSE:LSPD) had its price target decreased by Wells Fargo & Company from $17.00 to $16.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

LSPD has been the subject of several other research reports. Royal Bank of Canada upgraded shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research note on Friday, November 8th. Barclays downgraded Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $20.00 to $18.00 in a research note on Friday, January 10th. BMO Capital Markets upped their price objective on Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Piper Sandler raised their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, BTIG Research restated a “buy” rating and set a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.50.

Lightspeed Commerce Price Performance

Shares of NYSE:LSPD opened at $14.61 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. Lightspeed Commerce has a one year low of $11.01 and a one year high of $20.09. The company has a 50-day simple moving average of $16.53 and a 200-day simple moving average of $14.93. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -16.42 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. The company had revenue of $277.18 million during the quarter, compared to analysts’ expectations of $273.90 million. On average, analysts predict that Lightspeed Commerce will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LSPD. Toronto Dominion Bank lifted its stake in Lightspeed Commerce by 102.8% in 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. Aigen Investment Management LP purchased a new stake in shares of Lightspeed Commerce in the third quarter valued at $225,000. Polar Asset Management Partners Inc. purchased a new stake in Lightspeed Commerce in the 3rd quarter valued at about $412,000. Algert Global LLC purchased a new stake in Lightspeed Commerce in the third quarter valued at approximately $448,000. Finally, Barclays PLC grew its stake in shares of Lightspeed Commerce by 8,355.1% during the 3rd quarter. Barclays PLC now owns 29,170 shares of the company’s stock valued at $481,000 after buying an additional 28,825 shares during the period. 68.68% of the stock is owned by hedge funds and other institutional investors.

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.